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

Bridger Aerospace Group (NASDAQ:BAER) had its price objective cut by stock analysts at Canaccord Genuity Group from $6.00 to $5.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 189.02% from the company’s previous close.

Bridger Aerospace Group Stock Up 10.9 %

NASDAQ BAER opened at $1.73 on Monday. Bridger Aerospace Group has a twelve month low of $1.43 and a twelve month high of $6.20. The company has a market cap of $93.50 million, a price-to-earnings ratio of -1.26 and a beta of -0.14. The business’s fifty day moving average is $2.38 and its 200 day moving average is $2.53.

Bridger Aerospace Group (NASDAQ:BAER) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The company 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. Scratch Capital LLC acquired a new position in Bridger Aerospace Group during the 4th quarter worth about $29,000. Barclays PLC lifted 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 worth $31,000 after buying an additional 10,824 shares during the period. JPMorgan Chase & Co. lifted its holdings in Bridger Aerospace Group by 167.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,935 shares of the company’s stock worth $38,000 after buying an additional 10,612 shares during the period. BNP Paribas Financial Markets acquired a new position in Bridger Aerospace Group during the 4th quarter worth about $38,000. Finally, GM Advisory Group LLC acquired a new position in Bridger Aerospace Group during the 3rd quarter worth about $61,000. 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.