Bridger Aerospace Group (NASDAQ:BAER) Price Target Lowered to $5.00 at Canaccord Genuity Group

Bridger Aerospace Group (NASDAQ:BAER) had its price target decreased by Canaccord Genuity Group from $5.25 to $5.00 in a research report released on Monday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on BAER. Weiss Ratings raised Bridger Aerospace Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Wall Street Zen lowered Bridger Aerospace Group from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bridger Aerospace Group currently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Bridger Aerospace Group Stock Performance

Shares of Bridger Aerospace Group stock opened at $2.16 on Monday. The firm has a market cap of $119.97 million, a P/E ratio of -3.86 and a beta of 0.19. The firm’s 50-day simple moving average is $2.56 and its 200-day simple moving average is $2.06. Bridger Aerospace Group has a twelve month low of $1.02 and a twelve month high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.10). The business had revenue of $8.55 million during the quarter, compared to analyst estimates of $6.50 million. Bridger Aerospace Group had a negative return on equity of 1.22% and a net margin of 3.37%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new position in Bridger Aerospace Group during the 2nd quarter worth about $26,000. Stifel Financial Corp increased its position in Bridger Aerospace Group by 23.6% in the 4th quarter. Stifel Financial Corp now owns 21,860 shares of the company’s stock valued at $40,000 after acquiring an additional 4,180 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Bridger Aerospace Group in the first quarter worth about $41,000. Stanley Laman Group Ltd. acquired a new position in shares of Bridger Aerospace Group during the fourth quarter worth approximately $52,000. Finally, Centiva Capital LP acquired a new position in shares of Bridger Aerospace Group during the third quarter worth approximately $53,000. 48.94% of the stock is owned by institutional investors.

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.