Key Points
- Blackstone Holdings sold 2.78 million BAER shares for approximately $2.89 million at an average price of $1.04, reducing its position by 98.68% to 37,272 shares.
- Bridger Aerospace reported weaker-than-expected quarterly results, with an EPS loss of $0.13 versus the $0.03 consensus estimate and revenue of $30.49 million versus expectations of $37.04 million.
- Shares recently traded at $1.25, while analysts’ consensus rating was Hold with an average price target of $3.67; institutional investors owned 48.94% of the company.
Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER - Get Free Report) major shareholder Holdings L.P. Blackstone sold 2,778,124 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1.04, for a total value of $2,889,248.96. Following the completion of the transaction, the insider directly owned 37,272 shares in the company, valued at $38,762.88. The trade was a 98.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Bridger Aerospace Group Trading Up 4.2%
Shares of NASDAQ BAER opened at $1.25 on Friday. The firm has a market cap of $69.90 million, a P/E ratio of -1.47 and a beta of 0.35. Bridger Aerospace Group Holdings, Inc. has a 1-year low of $1.12 and a 1-year high of $3.44. The business's 50 day moving average is $1.82 and its 200-day moving average is $2.09.
Bridger Aerospace Group (NASDAQ:BAER - Get Free Report) last released its quarterly earnings results 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 net margin of 10.77% and a negative return on equity of 1.21%. The firm had revenue of $30.49 million during the quarter, compared to the consensus estimate of $37.04 million. Analysts forecast that Bridger Aerospace Group Holdings, Inc. will post -0.58 EPS for the current year.
Institutional Trading of Bridger Aerospace Group
Institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bridger Aerospace Group during the 1st quarter worth approximately $41,000. XTX Topco Ltd bought a new position in Bridger Aerospace Group in the second quarter valued at approximately $26,000. Jane Street Group LLC acquired a new position in Bridger Aerospace Group during the second quarter valued at approximately $73,000. Bridgeway Capital Management LLC raised its position in Bridger Aerospace Group by 555.6% during the second quarter. Bridgeway Capital Management LLC now owns 76,700 shares of the company's stock valued at $148,000 after purchasing an additional 65,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Bridger Aerospace Group by 7.9% during the third quarter. Vanguard Group Inc. now owns 809,615 shares of the company's stock worth $1,498,000 after purchasing an additional 59,482 shares during the last quarter. Institutional investors own 48.94% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on BAER. Weiss Ratings cut shares of Bridger Aerospace Group from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 28th. Canaccord Genuity Group lowered their price target on shares of Bridger Aerospace Group from $4.50 to $4.00 and set a "buy" rating on the stock in a research report on Monday. Stifel Nicolaus set a $3.00 price target on shares of Bridger Aerospace Group in a research report on Monday. Lake Street Capital reiterated a "buy" rating and issued a $4.00 price objective on shares of Bridger Aerospace Group in a research note on Friday, August 7th. Finally, 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. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $3.67.
Check Out Our Latest Research Report on BAER
Bridger Aerospace Group Company Profile
(
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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