Bridger Aerospace Group (NASDAQ:BAER) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Bridger Aerospace Group from “strong sell” to “hold,” matching the broader analyst consensus. The average price target is $3.67, with ratings spanning three Buys, one Hold and one Sell.
• Bridger reported disappointing quarterly results, with a $0.13 per-share loss versus the expected $0.03 loss and revenue of $30.49 million versus the $37.04 million consensus estimate.
• The stock opened at $1.25, near its 12-month low of $1.12, while Blackstone-related shareholders sold millions of shares, sharply reducing their positions.

Bridger Aerospace Group (NASDAQ:BAER - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a research note issued on Saturday.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group decreased their price target on shares of Bridger Aerospace Group from $4.50 to $4.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Bridger Aerospace Group from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday. Stifel Nicolaus set a $3.00 target price on shares of Bridger Aerospace Group in a research report on Monday. Finally, Lake Street Capital restated a "buy" rating and set a $4.00 target price on shares of Bridger Aerospace Group in a research report on Friday, August 7th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $3.67.

Bridger Aerospace Group Stock Performance

NASDAQ:BAER opened at $1.25 on Friday. Bridger Aerospace Group has a 12 month low of $1.12 and a 12 month high of $3.44. The business's 50-day moving average is $1.80 and its 200 day moving average is $2.08. The company has a market capitalization of $69.90 million, a P/E ratio of -1.47 and a beta of 0.35.

Bridger Aerospace Group (NASDAQ:BAER - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.10). Bridger Aerospace Group had a negative net margin of 10.77% and a negative return on equity of 1.21%. The firm had revenue of $30.49 million for the quarter, compared to the consensus estimate of $37.04 million. On average, research analysts forecast that Bridger Aerospace Group will post -0.58 earnings per share for the current year.

Insider Buying and Selling at Bridger Aerospace Group

In related news, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $1.04, for a total transaction of $2,889,248.96. Following the sale, the insider owned 37,272 shares in the company, valued at approximately $38,762.88. This represents a 98.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $1.70, for a total value of $3,230,000.00. Following the completion of the sale, the insider owned 58,205 shares of the company's stock, valued at approximately $98,948.50. This represents a 97.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 16.36% of the company's stock.

Hedge Funds Weigh In On Bridger Aerospace Group

A number of large investors have recently made changes to their positions in the company. Stifel Financial Corp grew its holdings in Bridger Aerospace Group by 23.6% during the 4th quarter. Stifel Financial Corp now owns 21,860 shares of the company's stock valued at $40,000 after purchasing an additional 4,180 shares during the last quarter. Geode Capital Management LLC lifted its stake in Bridger Aerospace Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 284,601 shares of the company's stock worth $521,000 after purchasing an additional 5,959 shares during the last quarter. HB Wealth Management LLC purchased a new position in shares of Bridger Aerospace Group during the first quarter valued at approximately $26,000. XTX Topco Ltd purchased a new position in shares of Bridger Aerospace Group during the second quarter valued at approximately $26,000. Finally, Vise Technologies Inc. bought a new position in shares of Bridger Aerospace Group during the second quarter valued at approximately $28,000. 48.94% of the stock is owned by hedge funds and other institutional investors.

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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