Bridger Aerospace Group (NASDAQ:BAER) Receives “Buy” Rating from Canaccord Genuity Group

Bridger Aerospace Group (NASDAQ:BAER)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity Group in a report issued on Wednesday,Benzinga reports. They presently have a $6.00 target price on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 121.40% from the stock’s current price.

Bridger Aerospace Group Stock Down 17.9 %

BAER opened at $2.71 on Wednesday. The firm has a market cap of $146.47 million, a P/E ratio of -1.98 and a beta of -0.29. Bridger Aerospace Group has a 52 week low of $1.71 and a 52 week high of $6.78. The business has a fifty day simple moving average of $2.64 and a 200-day simple moving average of $2.81.

Bridger Aerospace Group (NASDAQ:BAER) last announced its earnings results on Monday, November 11th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.15). The company had revenue of $64.51 million for the quarter.

Hedge Funds Weigh In On Bridger Aerospace Group

Large investors have recently bought and sold shares of the business. Barclays PLC boosted 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 worth $31,000 after purchasing an additional 10,824 shares during the period. Rhumbline Advisers purchased a new position in shares of Bridger Aerospace Group during the second quarter worth about $36,000. JPMorgan Chase & Co. increased its position in Bridger Aerospace Group by 167.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,935 shares of the company’s stock valued at $38,000 after acquiring an additional 10,612 shares during the period. Bank of New York Mellon Corp acquired a new stake in Bridger Aerospace Group during the 2nd quarter worth approximately $50,000. Finally, GM Advisory Group LLC acquired a new stake in Bridger Aerospace Group during the 3rd quarter worth approximately $61,000. 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.