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

Bridger Aerospace Group (NASDAQ:BAER) had its price target lowered by equities researchers at Canaccord Genuity Group from $6.00 to $5.00 in a report released on Monday,Benzinga reports. The brokerage 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 %

Bridger Aerospace Group stock opened at $1.73 on Monday. Bridger Aerospace Group has a 12-month low of $1.43 and a 12-month high of $6.20. The firm’s fifty day moving average is $2.38 and its 200 day moving average is $2.53. The company has a market capitalization of $93.50 million, a PE ratio of -1.26 and a beta of -0.14.

Bridger Aerospace Group (NASDAQ:BAER) last released its 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 for the quarter, compared to the consensus estimate of $9.70 million. During the same quarter in the previous year, the firm earned ($0.67) EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake 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. Barclays PLC increased 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 purchasing an additional 10,824 shares in the last quarter. Scratch Capital LLC bought a new stake in Bridger Aerospace Group during the 4th quarter valued at $29,000. BNP Paribas Financial Markets bought a new stake in Bridger Aerospace Group during the 4th quarter valued at $38,000. Finally, Geode Capital Management LLC increased its stake in Bridger Aerospace Group by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 369,617 shares of the company’s stock valued at $788,000 after purchasing an additional 18,243 shares in the last quarter. Institutional investors and hedge funds own 48.94% of the company’s stock.

About Bridger Aerospace Group

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.