Key Points
- Blackstone II sold 1.9 million Bridger Aerospace shares at an average price of $1.70, generating $3.23 million. The sale reduced its remaining stake by 97.03% to 58,205 shares.
- Bridger Aerospace reported a quarterly loss of $0.13 per share, missing the $0.03 consensus estimate, while revenue of $30.49 million fell short of expectations of $37.04 million.
- BAER opened at $1.69 and remains well below its 52-week high of $3.44. Analysts have a consensus “Hold” rating and an average price target of $4.12, despite mixed views ranging from “Buy” to “Strong Sell.”
Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER - Get Free Report) major shareholder Holdings L.P. Blackstone II sold 1,900,000 shares of Bridger Aerospace Group stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $1.70, for a total value of $3,230,000.00. Following the sale, the insider directly owned 58,205 shares of the company's stock, valued at approximately $98,948.50. This represents a 97.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Bridger Aerospace Group Stock Performance
Bridger Aerospace Group stock opened at $1.69 on Friday. The business's 50-day simple moving average is $1.91 and its two-hundred day simple moving average is $2.14. The company has a market cap of $94.51 million, a PE ratio of -2.01 and a beta of 0.35. Bridger Aerospace Group Holdings, Inc. has a fifty-two week low of $1.47 and a fifty-two week high of $3.44.
Bridger Aerospace Group (NASDAQ:BAER - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.10). Bridger Aerospace Group had a negative return on equity of 1.21% and a negative net margin of 10.05%.The firm had revenue of $30.49 million during the quarter, compared to analysts' expectations of $37.04 million. As a group, analysts predict that Bridger Aerospace Group Holdings, Inc. will post -0.49 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Bridger Aerospace Group from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, July 28th. Lake Street Capital assumed coverage on shares of Bridger Aerospace Group in a research note on Wednesday, May 20th. They set a "buy" rating and a $4.50 price objective for the company. Wall Street Zen downgraded shares of Bridger Aerospace Group from a "sell" rating to a "strong sell" rating in a report on Saturday, May 16th. Finally, Canaccord Genuity Group set a $4.50 price objective on shares of Bridger Aerospace Group in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $4.12.
Check Out Our Latest Stock Report on BAER
Hedge Funds Weigh In On Bridger Aerospace Group
Institutional investors and hedge funds have recently modified their holdings of the stock. Stifel Financial Corp raised its position in Bridger Aerospace Group by 23.6% during the fourth quarter. Stifel Financial Corp now owns 21,860 shares of the company's stock valued at $40,000 after acquiring an additional 4,180 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Bridger Aerospace Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 284,601 shares of the company's stock valued at $521,000 after acquiring an additional 5,959 shares during the period. HB Wealth Management LLC purchased a new stake in Bridger Aerospace Group in the 1st quarter worth approximately $26,000. XTX Topco Ltd purchased a new stake in Bridger Aerospace Group in the 2nd quarter worth approximately $26,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Bridger Aerospace Group during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 48.94% of the company's stock.
About Bridger Aerospace Group
(
Get Free Report)
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.
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