Jeffrey Kelter Acquires 100,000 Shares of Bridger Aerospace Group (NASDAQ:BAER) Stock

Key Points

• Director Jeffrey Kelter bought 100,000 Bridger Aerospace shares at $1.20 each, investing $120,000 and increasing his direct ownership by 17.31% to 677,800 shares.
• Bridger Aerospace recently reported a quarterly loss of $0.13 per share and revenue of $30.49 million, missing analyst estimates of a $0.03 loss and $37.04 million in revenue.
• BAER shares traded near $1.15, close to their 12-month low of $1.12. Analysts’ average rating is “Hold,” with an average price target of $3.67, while institutional investors own 48.94% of the stock.

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER - Get Free Report) Director Jeffrey Kelter acquired 100,000 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average cost of $1.20 per share, with a total value of $120,000.00. Following the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Bridger Aerospace Group Price Performance

Shares of NASDAQ:BAER traded down $0.01 during mid-day trading on Thursday, reaching $1.15. 925,383 shares of the company's stock were exchanged, compared to its average volume of 1,572,981. The business's fifty day moving average price is $1.76 and its 200-day moving average price is $2.03. Bridger Aerospace Group Holdings, Inc. has a twelve month low of $1.12 and a twelve month high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $30.49 million for the quarter, compared to analyst estimates of $37.04 million. Sell-side analysts predict that Bridger Aerospace Group Holdings, Inc. will post -0.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BAER shares. Lake Street Capital reaffirmed a "buy" rating and issued a $4.00 target price on shares of Bridger Aerospace Group in a research note on Friday, August 7th. Wall Street Zen upgraded Bridger Aerospace Group from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings upgraded Bridger Aerospace Group from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 13th. Stifel Nicolaus set a $3.00 price target on Bridger Aerospace Group in a research note on Monday, August 10th. Finally, Canaccord Genuity Group decreased their target price on shares of Bridger Aerospace Group from $4.50 to $4.00 and set a "buy" rating for the company in a report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $3.67.

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. Bridgeway Capital Management LLC boosted its holdings in Bridger Aerospace Group by 555.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company's stock valued at $148,000 after acquiring an additional 65,000 shares during the period. Quadrature Capital Ltd bought a new stake in Bridger Aerospace Group during the 4th quarter valued at about $82,000. Jane Street Group LLC purchased a new stake in Bridger Aerospace Group in the 2nd quarter valued at about $73,000. Centiva Capital LP bought a new stake in shares of Bridger Aerospace Group during the third quarter valued at approximately $53,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Bridger Aerospace Group in the fourth quarter valued at approximately $48,000. 48.94% of the stock is currently 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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