Bridger Aerospace Group (NASDAQ:BAER) Given Buy Rating at Canaccord Genuity Group

Bridger Aerospace Group (NASDAQ:BAER)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity Group in a report issued on Wednesday,Benzinga reports. They presently have a $6.00 price objective on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 116.61% from the company’s previous close.

Bridger Aerospace Group Price Performance

Shares of Bridger Aerospace Group stock opened at $2.77 on Wednesday. Bridger Aerospace Group has a 1 year low of $1.71 and a 1 year high of $6.61. The firm’s 50-day moving average is $2.63 and its 200 day moving average is $2.81. The stock has a market cap of $149.72 million, a price-to-earnings ratio of -2.02 and a beta of -0.29.

Bridger Aerospace Group (NASDAQ:BAER) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.15). The firm had revenue of $64.51 million for the quarter.

Institutional Investors Weigh In On Bridger Aerospace Group

Several institutional investors have recently modified their holdings of the business. Rhumbline Advisers purchased a new position in Bridger Aerospace Group in the 2nd quarter worth about $36,000. Bank of New York Mellon Corp bought a new stake in shares of Bridger Aerospace Group in the second quarter worth approximately $50,000. Barclays PLC raised its holdings in shares of Bridger Aerospace Group by 347.8% during the third quarter. Barclays PLC now owns 13,936 shares of the company’s stock valued at $31,000 after purchasing an additional 10,824 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Bridger Aerospace Group by 167.8% during the third 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 during the period. Finally, GM Advisory Group LLC purchased a new stake in Bridger Aerospace Group in the third quarter worth approximately $61,000. 48.94% of the stock is owned by hedge funds and other institutional investors.

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.