Bridger Aerospace Group (NASDAQ:BAER) Shares Down 10.9%

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER)’s share price was down 10.9% on Monday . The company traded as low as $2.40 and last traded at $2.45. Approximately 193,100 shares were traded during trading, an increase of 338% from the average daily volume of 44,069 shares. The stock had previously closed at $2.75.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BAER shares. Canaccord Genuity Group began coverage on Bridger Aerospace Group in a report on Monday, June 24th. They issued a “buy” rating and a $5.50 target price for the company. Canaccord Genuity Group restated a “buy” rating and set a $5.25 target price on shares of Bridger Aerospace Group in a research note on Tuesday, August 13th.

Bridger Aerospace Group Trading Down 10.9 %

The stock’s fifty day moving average price is $3.02 and its two-hundred day moving average price is $3.94. The firm has a market capitalization of $115.18 million, a price-to-earnings ratio of -1.40 and a beta of -0.16.

Bridger Aerospace Group (NASDAQ:BAER) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.08). The business had revenue of $13.01 million during the quarter.

Hedge Funds Weigh In On Bridger Aerospace Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Peterson Wealth Advisors LLC purchased a new stake in shares of Bridger Aerospace Group during the 1st quarter worth approximately $976,000. Bank of New York Mellon Corp purchased a new stake in Bridger Aerospace Group in the second quarter valued at $50,000. Finally, Rhumbline Advisers acquired a new position in Bridger Aerospace Group in the second quarter valued at $36,000. 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.