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

Bridger Aerospace Group (NASDAQ:BAER) had its price objective lowered by investment analysts at Canaccord Genuity Group from $6.00 to $5.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 213.48% from the stock’s previous close.

Bridger Aerospace Group Stock Performance

NASDAQ BAER traded down $0.24 on Monday, reaching $1.60. 360,401 shares of the stock traded hands, compared to its average volume of 429,199. The company has a fifty day moving average price of $2.42 and a 200-day moving average price of $2.54. The company has a market cap of $86.21 million, a price-to-earnings ratio of -1.16 and a beta of -0.14. Bridger Aerospace Group has a 12 month low of $1.53 and a 12 month high of $6.20.

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 firm had revenue of $15.59 million during the quarter, compared to analysts’ expectations of $9.70 million. During the same period last year, the firm posted ($0.67) earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in Bridger Aerospace Group during the 4th quarter valued at about $138,000. First Manhattan CO. LLC. increased its position in Bridger Aerospace Group by 3.8% during the 4th quarter. First Manhattan CO. LLC. now owns 1,379,705 shares of the company’s stock valued at $2,939,000 after buying an additional 50,000 shares in the last quarter. Baird Financial Group Inc. acquired a new position in Bridger Aerospace Group during the 4th quarter valued at about $604,000. BNP Paribas Financial Markets acquired a new position in Bridger Aerospace Group during the 4th quarter valued at about $38,000. Finally, Northern Trust Corp grew its stake in Bridger Aerospace Group by 26.3% during the 4th quarter. Northern Trust Corp now owns 115,573 shares of the company’s stock valued at $246,000 after purchasing an additional 24,067 shares during the last quarter. 48.94% of the stock is owned by institutional investors and hedge funds.

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.