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

Bridger Aerospace Group (NASDAQ:BAER) had its target price reduced by Canaccord Genuity Group from $6.00 to $5.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 213.48% from the company’s current price.

Bridger Aerospace Group Price Performance

Shares of NASDAQ:BAER traded down $0.24 during trading on Monday, hitting $1.60. The company had a trading volume of 360,401 shares, compared to its average volume of 429,199. The stock 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 one year low of $1.53 and a one year high of $6.20. The company has a fifty day simple moving average of $2.42 and a two-hundred day simple moving average of $2.54.

Bridger Aerospace Group (NASDAQ:BAER) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The company had revenue of $15.59 million during the quarter, compared to analysts’ expectations of $9.70 million. During the same period in the prior year, the company earned ($0.67) earnings per share.

Hedge Funds Weigh In On Bridger Aerospace Group

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Bridger Aerospace Group by 54.0% during the 3rd quarter. Geode Capital Management LLC now owns 351,374 shares of the company’s stock valued at $780,000 after acquiring an additional 123,158 shares during the period. Mill Creek Capital Advisors LLC purchased a new position in Bridger Aerospace Group during the 3rd quarter valued at $433,000. Barclays PLC boosted 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 acquiring an additional 10,824 shares during the period. Apollon Wealth Management LLC bought a new stake in Bridger Aerospace Group during the 4th quarter valued at $72,000. Finally, JPMorgan Chase & Co. raised its position in Bridger Aerospace Group by 167.8% during 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 in the last quarter. 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.