Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Bridger Aerospace Group currently has an average analyst rating of "Hold" from five research firms, with a mix of one sell, one hold, and three buy ratings. The average 1-year price target is about $4.12.
• The company’s latest earnings report missed expectations, posting -$0.69 EPS versus an expected -$0.37, while revenue came in at $8.51 million versus the $17.23 million consensus estimate.
• BAER shares were trading around $1.93, well below the analysts’ average target, and the company has a market cap of about $108 million. Institutional ownership stands at 48.94%.

Shares of Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER - Get Free Report) have received an average rating of "Hold" from the five research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $4.1167.

Several analysts have recently commented on BAER shares. Lake Street Capital started coverage on shares of Bridger Aerospace Group in a research report on Wednesday, May 20th. They set a "buy" rating and a $4.50 price objective for the company. Canaccord Genuity Group set a $4.50 target price on shares of Bridger Aerospace Group in a research report on Friday, May 8th. Zacks Research raised shares of Bridger Aerospace Group to a "hold" rating in a research note on Wednesday, April 1st. Weiss Ratings cut shares of Bridger Aerospace Group from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen downgraded shares of Bridger Aerospace Group from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 16th.

Institutional Investors Weigh In On Bridger Aerospace Group

A number of hedge funds have recently added to or reduced their stakes in BAER. Stifel Financial Corp increased its holdings in shares of Bridger Aerospace Group by 23.6% during the fourth quarter. Stifel Financial Corp now owns 21,860 shares of the company's stock valued at $40,000 after acquiring an additional 4,180 shares in the last quarter. Geode Capital Management LLC grew its position in Bridger Aerospace Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 284,601 shares of the company's stock valued at $521,000 after purchasing an additional 5,959 shares during the period. HB Wealth Management LLC acquired a new stake in Bridger Aerospace Group in the 1st quarter valued at $26,000. XTX Topco Ltd acquired a new stake in Bridger Aerospace Group in the 2nd quarter valued at $26,000. Finally, Janney Montgomery Scott LLC bought a new stake in Bridger Aerospace Group during the 1st quarter valued at $30,000. Institutional investors and hedge funds own 48.94% of the company's stock.

Bridger Aerospace Group Price Performance

Shares of Bridger Aerospace Group stock opened at $1.93 on Thursday. Bridger Aerospace Group has a one year low of $1.47 and a one year high of $3.44. The stock's 50-day moving average is $1.92 and its 200 day moving average is $2.17. The firm has a market cap of $107.93 million, a price-to-earnings ratio of -2.30 and a beta of 0.35.

Bridger Aerospace Group (NASDAQ:BAER - Get Free Report) last issued its earnings results on Friday, May 8th. The company reported ($0.69) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.32). Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.05%.The business had revenue of $8.51 million during the quarter, compared to the consensus estimate of $17.23 million. On average, sell-side analysts expect that Bridger Aerospace Group will post -0.49 EPS for the current fiscal year.

About Bridger Aerospace Group

Bridger Aerospace Group, Inc operates as an aerial services company specializing in wildfire management and aviation support. The company's core business activities include aerial wildfire suppression, providing rapid-response water and fire-retardant drops from fixed-wing air tankers. In addition to firefighting, Bridger Aerospace offers aviation services such as cloud seeding for weather modification, aerial inspection and mapping, environmental monitoring, and logistics support for remote sites.

Founded in 2014 and headquartered in Heber City, Utah, Bridger Aerospace Group deploys a fleet of both fixed-wing and rotary-wing aircraft under contract to federal, state and local government agencies as well as commercial customers.

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