Bridger Aerospace Group (NASDAQ:BAER) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Bridger Aerospace Group (NASDAQ:BAER) from a "hold" to a "strong sell", while Weiss Ratings also cut to sell and Canaccord trimmed its price target to $5; the MarketBeat consensus remains a "Hold" with a $5.00 target.
• BAER traded around $2.00 (12‑month range $1.02–$3.44) with a market cap of about $111.8M and a negative P/E; last quarter it reported ($0.40) EPS (missing estimates) but revenue of $8.55M beat expectations.
• Institutional investors hold roughly 48.94% of the stock, with several hedge funds and investment firms recently opening or adjusting small positions.

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

Other research analysts have also issued reports about the company. Canaccord Genuity Group cut their price objective on Bridger Aerospace Group from $5.25 to $5.00 and set a "buy" rating on the stock in a report on Monday, March 9th. Weiss Ratings lowered Bridger Aerospace Group from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bridger Aerospace Group currently has a consensus rating of "Hold" and a consensus price target of $5.00.

Bridger Aerospace Group Trading Down 2.4%

NASDAQ BAER opened at $2.00 on Friday. Bridger Aerospace Group has a 12-month low of $1.02 and a 12-month high of $3.44. The company has a fifty day simple moving average of $2.58 and a two-hundred day simple moving average of $2.06. The stock has a market cap of $111.84 million, a P/E ratio of -3.57 and a beta of 0.18.

Bridger Aerospace Group (NASDAQ:BAER - Get Free Report) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.10). The company had revenue of $8.55 million for the quarter, compared to analysts' expectations of $6.50 million. Bridger Aerospace Group had a net margin of 3.37% and a negative return on equity of 1.21%.

Institutional Investors Weigh In On Bridger Aerospace Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new position in shares of Bridger Aerospace Group during the 2nd quarter valued at about $26,000. Stifel Financial Corp boosted its stake in shares of Bridger Aerospace Group by 23.6% in the fourth quarter. Stifel Financial Corp now owns 21,860 shares of the company's stock worth $40,000 after buying an additional 4,180 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Bridger Aerospace Group during the first quarter worth about $41,000. Stanley Laman Group Ltd. acquired a new stake in Bridger Aerospace Group during the fourth quarter worth about $52,000. Finally, Centiva Capital LP purchased a new position in Bridger Aerospace Group during the third quarter valued at approximately $53,000. 48.94% of the stock is owned by institutional investors and hedge funds.

Bridger Aerospace Group Company Profile

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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