Canaccord Genuity Group Issues Positive Forecast for Bridger Aerospace Group (NASDAQ:BAER) Stock Price

Bridger Aerospace Group (NASDAQ:BAER) had its price objective upped by Canaccord Genuity Group from $5.25 to $5.75 in a research note released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Bridger Aerospace Group Price Performance

Bridger Aerospace Group stock opened at $2.97 on Wednesday. The firm’s 50 day moving average price is $2.78 and its 200-day moving average price is $3.28. Bridger Aerospace Group has a 1 year low of $1.71 and a 1 year high of $7.82. The stock has a market cap of $157.90 million, a P/E ratio of -2.17 and a beta of -0.29.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.15). The business had revenue of $64.51 million for the quarter.

Insider Activity at Bridger Aerospace Group

In related news, EVP James J. Muchmore sold 26,936 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $2.58, for a total transaction of $69,494.88. Following the sale, the executive vice president now owns 844,211 shares of the company’s stock, valued at $2,178,064.38. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Eric L. Gerratt sold 18,731 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $2.59, for a total transaction of $48,513.29. Following the transaction, the chief financial officer now owns 481,269 shares of the company’s stock, valued at $1,246,486.71. This trade represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,614 shares of company stock valued at $252,811. Insiders own 76.22% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers purchased a new stake in Bridger Aerospace Group during the second quarter valued at approximately $36,000. Bank of New York Mellon Corp bought a new position in shares of Bridger Aerospace Group during the 2nd quarter valued at approximately $50,000. Barclays PLC raised its holdings in Bridger Aerospace Group by 347.8% during the 3rd quarter. Barclays PLC now owns 13,936 shares of the company’s stock valued at $31,000 after buying an additional 10,824 shares during the period. GM Advisory Group LLC bought a new stake in Bridger Aerospace Group in the third quarter worth $61,000. Finally, Aspiriant LLC purchased a new position in Bridger Aerospace Group during the third quarter worth $145,000. Hedge funds and other institutional investors own 48.94% of the company’s stock.

Bridger Aerospace Group Company Profile

Bridger Aerospace Group Holdings, Inc provides aerial wildfire management, relief and suppression, and firefighting services to federal and state government agencies in the United States. It offers fire suppression services, such as direct fire suppression aerial firefighting support services for ground crew to drop large amounts of water quickly and directly on wildfires.