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

Key Points

• Analysts have a consensus “Hold” rating on Bridger Aerospace Group, based on five brokerages: three buys, one hold and one sell. The average 12-month price target is $3.67, with recent targets ranging from $3.00 to $4.00.
• BAER opened at $1.15, near its 12-month low of $1.12, after the company missed quarterly expectations. Bridger reported a loss of $0.13 per share versus an expected loss of $0.03 and revenue of $30.49 million versus the $37.04 million consensus.
• Insider activity was mixed: Blackstone II sold 1.9 million shares, while Director Jeffrey Kelter bought 100,000 shares at $1.20 each. Institutional investors own approximately 48.94% of the company.

Shares of Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER - Get Free Report) have been given a consensus rating of "Hold" by the five brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $3.6667.

BAER has been the subject of several research analyst reports. Wall Street Zen raised Bridger Aerospace Group from a "strong sell" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings upgraded Bridger Aerospace Group from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 13th. Lake Street Capital reiterated a "buy" rating and issued a $4.00 price target on shares of Bridger Aerospace Group in a report on Friday, August 7th. Stifel Nicolaus set a $3.00 price target on Bridger Aerospace Group in a research report on Monday, August 10th. Finally, Canaccord Genuity Group reduced their price objective on 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.

Bridger Aerospace Group Price Performance

NASDAQ BAER opened at $1.15 on Friday. The company has a market capitalization of $64.31 million, a price-to-earnings ratio of -1.35 and a beta of 0.35. Bridger Aerospace Group has a 12 month low of $1.12 and a 12 month high of $3.44. The company's fifty day moving average price is $1.68 and its two-hundred day moving average price is $1.96.

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

Insiders Place Their Bets

In related news, major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $1.70, for a total transaction of $3,230,000.00. Following the completion of the sale, the insider owned 58,205 shares of the company's stock, valued at $98,948.50. This represents a 97.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey E. Kelter acquired 100,000 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average price of $1.20 per share, for a total transaction of $120,000.00. Following the purchase, the director owned 677,800 shares of the company's stock, valued at $813,360. This trade represents a 17.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 16.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bridger Aerospace Group

A number of large investors have recently bought and sold shares of the business. First Manhattan CO. LLC. grew its holdings in shares of Bridger Aerospace Group by 43.5% during the fourth quarter. First Manhattan CO. LLC. now owns 5,513,555 shares of the company's stock valued at $10,090,000 after purchasing an additional 1,671,375 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Bridger Aerospace Group by 530.0% in the 4th quarter. Marshall Wace LLP now owns 965,091 shares of the company's stock worth $1,766,000 after purchasing an additional 811,899 shares during the last quarter. Vanguard Group Inc. boosted its position in Bridger Aerospace Group by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 809,615 shares of the company's stock valued at $1,498,000 after purchasing an additional 59,482 shares during the period. Goldman Sachs Group Inc. grew its stake in Bridger Aerospace Group by 50.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 332,042 shares of the company's stock worth $608,000 after buying an additional 110,788 shares during the last quarter. Finally, BlackRock Inc. bought a new position in Bridger Aerospace Group during the 2nd quarter worth $560,000. Institutional investors own 48.94% of the company's stock.

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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