Bridger Aerospace Group (NASDAQ:BAER) Now Covered by Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Bridger Aerospace Group (NASDAQ:BAER) in a research report released on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $3.35 price target on the stock.

BAER has been the topic of a number of other research reports. Weiss Ratings cut Bridger Aerospace Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, March 9th. Wall Street Zen cut Bridger Aerospace Group from a “hold” rating to a “strong sell” rating in a research report on Sunday, March 15th. Finally, Canaccord Genuity Group dropped their price target on Bridger Aerospace Group from $5.25 to $5.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.18.

Bridger Aerospace Group Trading Up 15.1%

Shares of Bridger Aerospace Group stock opened at $1.98 on Tuesday. The company has a fifty day simple moving average of $2.45 and a 200-day simple moving average of $2.06. The stock has a market cap of $110.73 million, a price-to-earnings ratio of -3.54 and a beta of 0.19. Bridger Aerospace Group has a 12-month low of $1.02 and a 12-month high of $3.44.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.10). Bridger Aerospace Group had a negative return on equity of 1.21% and a net margin of 3.37%.The company had revenue of $8.55 million for the quarter, compared to analyst estimates of $6.50 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bridgeway Capital Management LLC raised its holdings in shares of Bridger Aerospace Group by 555.6% in the second quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company’s stock valued at $148,000 after buying an additional 65,000 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Bridger Aerospace Group during the fourth quarter worth about $84,000. Quadrature Capital Ltd purchased a new position in shares of Bridger Aerospace Group during the fourth quarter worth about $82,000. Centiva Capital LP acquired a new position in Bridger Aerospace Group in the 3rd quarter valued at about $53,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Bridger Aerospace Group in the 4th quarter valued at about $48,000. 48.94% of the stock is 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.