Bridger Aerospace Group (NASDAQ:BAER) Shares Down 4.6% – Should You Sell?

Shares of Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER) dropped 4.6% during mid-day trading on Friday . The company traded as low as $2.63 and last traded at $2.67. Approximately 699,978 shares traded hands during trading, a decline of 22% from the average daily volume of 893,776 shares. The stock had previously closed at $2.80.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BAER. Wall Street Zen cut shares of Bridger Aerospace Group from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Canaccord Genuity Group reissued a “buy” rating and issued a $5.25 target price on shares of Bridger Aerospace Group in a research note on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bridger Aerospace Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bridger Aerospace Group currently has a consensus rating of “Hold” and a consensus target price of $5.25.

Bridger Aerospace Group Price Performance

The business’s 50 day simple moving average is $2.00 and its 200-day simple moving average is $1.89. The stock has a market capitalization of $148.29 million, a P/E ratio of -5.13 and a beta of 0.14.

Bridger Aerospace Group (NASDAQ:BAER) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Bridger Aerospace Group had a negative return on equity of 1.91% and a net margin of 4.96%.The company had revenue of $67.89 million for the quarter, compared to the consensus estimate of $48.40 million.

Insiders Place Their Bets

In related news, Director Jeffrey E. Kelter bought 200,000 shares of Bridger Aerospace Group stock in a transaction on Wednesday, December 3rd. The shares were purchased at an average price of $1.80 per share, for a total transaction of $360,000.00. Following the completion of the acquisition, the director owned 627,800 shares in the company, valued at approximately $1,130,040. This represents a 46.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 19.51% of the company’s stock.

Institutional Trading of Bridger Aerospace Group

A number of hedge funds have recently modified their holdings of BAER. XTX Topco Ltd acquired a new stake in shares of Bridger Aerospace Group during the second quarter worth $26,000. Stanley Laman Group Ltd. bought a new position in Bridger Aerospace Group during the 4th quarter worth about $52,000. Centiva Capital LP acquired a new stake in shares of Bridger Aerospace Group in the 3rd quarter valued at about $53,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Bridger Aerospace Group in the first quarter valued at about $41,000. Finally, Jane Street Group LLC acquired a new position in shares of Bridger Aerospace Group during the second quarter worth about $73,000. 48.94% of the stock is currently owned by institutional investors and hedge funds.

About Bridger Aerospace Group

Bridger Aerospace Group, Inc operates as an aerial services company specializing in wildfire management and aviation support. The company’s core business activities include aerial wildfire suppression, providing rapid-response water and fire-retardant drops from fixed-wing air tankers. In addition to firefighting, Bridger Aerospace offers aviation services such as cloud seeding for weather modification, aerial inspection and mapping, environmental monitoring, and logistics support for remote sites.

Founded in 2014 and headquartered in Heber City, Utah, Bridger Aerospace Group deploys a fleet of both fixed-wing and rotary-wing aircraft under contract to federal, state and local government agencies as well as commercial customers.