Canaccord Genuity Group Has Lowered Expectations for Bridger Aerospace Group (NASDAQ:BAER) Stock Price

Bridger Aerospace Group (NASDAQ:BAER) had its price target trimmed by Canaccord Genuity Group from $6.00 to $5.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Bridger Aerospace Group Stock Performance

BAER opened at $1.63 on Monday. Bridger Aerospace Group has a one year low of $1.43 and a one year high of $6.20. The stock has a market capitalization of $88.10 million, a P/E ratio of -1.19 and a beta of -0.14. The business’s 50-day simple moving average is $2.36 and its 200-day simple moving average is $2.52.

Bridger Aerospace Group (NASDAQ:BAER) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The business had revenue of $15.59 million during the quarter, compared to the consensus estimate of $9.70 million. During the same quarter last year, the business posted ($0.67) earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BAER. Geode Capital Management LLC raised its holdings in shares of Bridger Aerospace Group by 54.0% in the third quarter. Geode Capital Management LLC now owns 351,374 shares of the company’s stock valued at $780,000 after buying an additional 123,158 shares during the last quarter. Mill Creek Capital Advisors LLC acquired a new position in Bridger Aerospace Group in the 3rd quarter valued at about $433,000. Barclays PLC raised its stake 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 acquiring an additional 10,824 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in Bridger Aerospace Group during the 4th quarter worth approximately $72,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Bridger Aerospace Group by 167.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,935 shares of the company’s stock valued at $38,000 after purchasing an additional 10,612 shares during the last quarter. 48.94% of the stock is owned by hedge funds and other institutional investors.

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.