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

Key Points

• Analyst consensus is “Hold” for Bridger Aerospace, with three buy ratings, one hold, and one sell; the average 12-month price target is $3.67.
• BAER shares opened at $0.93, near their 12-month low of $0.91, after the company reported a quarterly EPS loss of $0.13 and revenue of $30.49 million, both below analyst expectations.
• Insider activity was mixed: a director bought 100,000 shares, while Blackstone sold 2.78 million shares. Institutional investors own approximately 48.94% of the company.

Shares of Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER - Get Free Report) have been given an average rating of "Hold" by the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $3.6667.

Several brokerages have weighed in on BAER. Wall Street Zen cut shares of Bridger Aerospace Group from a "hold" rating to a "sell" rating in a research note on Saturday, September 12th. Weiss Ratings upgraded shares of Bridger Aerospace Group from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday. Lake Street Capital reaffirmed a "buy" rating and issued a $4.00 target price on shares of Bridger Aerospace Group in a report on Friday, August 7th. Canaccord Genuity Group lowered their target price on Bridger Aerospace Group from $4.50 to $4.00 and set a "buy" rating for the company in a research report on Monday, August 10th. Finally, Stifel Nicolaus set a $3.00 price objective on shares of Bridger Aerospace Group in a research note on Monday, August 10th.

Bridger Aerospace Group Stock Down 1.6%

Shares of NASDAQ BAER opened at $0.93 on Tuesday. Bridger Aerospace Group has a twelve month low of $0.91 and a twelve month high of $3.44. The company has a market cap of $52.01 million, a PE ratio of -1.09 and a beta of 0.29. The business's 50 day moving average price is $1.40 and its two-hundred day moving average price is $1.78.

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

Insider Transactions at Bridger Aerospace Group

In other Bridger Aerospace Group news, Director Jeffrey E. Kelter acquired 100,000 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were bought at an average cost of $1.20 per share, with a total value of $120,000.00. Following the purchase, the director directly 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings I. L.P. Blackstone sold 2,778,124 shares of Bridger Aerospace Group stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $1.04, for a total value of $2,889,248.96. Following the completion of the sale, the insider owned 37,272 shares of the company's stock, valued at approximately $38,762.88. The trade was a 98.68% 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LP acquired a new stake in shares of Bridger Aerospace Group in the 2nd quarter valued at about $53,000. Ruggaard & Associates LLC acquired a new position in Bridger Aerospace Group during the 2nd quarter worth approximately $58,000. Vise Technologies Inc. bought a new position in Bridger Aerospace Group in the second quarter worth approximately $28,000. BlackRock Inc. bought a new position in Bridger Aerospace Group in the second quarter worth approximately $560,000. Finally, Bank of America Corp DE grew its stake in Bridger Aerospace Group by 255,063.4% in the first quarter. Bank of America Corp DE now owns 104,617 shares of the company's stock valued at $207,000 after acquiring an additional 104,576 shares during the period. 48.94% of the stock is owned by institutional investors.

About Bridger Aerospace Group

Bridger Aerospace Group is an aerial firefighting and aviation services company headquartered in Bozeman, Montana. The company provides wildfire suppression services primarily to federal, state and local government agencies, helping protect communities, natural resources and critical infrastructure during wildfire events.

Bridger Aerospace operates a specialized aircraft fleet that includes firefighting airtankers and amphibious aircraft used to deliver water or retardant to active fires.

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