Canaccord Genuity Group Cuts Bridger Aerospace Group (NASDAQ:BAER) Price Target to $5.00

Bridger Aerospace Group (NASDAQ:BAER) had its target price cut by Canaccord Genuity Group from $6.00 to $5.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Bridger Aerospace Group Price Performance

Shares of Bridger Aerospace Group stock opened at $1.56 on Monday. The firm has a market capitalization of $84.31 million, a PE ratio of -1.14 and a beta of -0.14. The company’s fifty day moving average price is $2.40 and its two-hundred day moving average price is $2.53. Bridger Aerospace Group has a 52-week low of $1.43 and a 52-week high of $6.20.

Bridger Aerospace Group (NASDAQ:BAER) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The business had revenue of $15.59 million for the quarter, compared to analysts’ expectations of $9.70 million. During the same quarter in the previous year, the business earned ($0.67) earnings per share.

Institutional Investors Weigh In On Bridger Aerospace Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Scratch Capital LLC acquired a new stake in shares of Bridger Aerospace Group in the 4th quarter valued at $29,000. Barclays PLC boosted its stake in shares of Bridger Aerospace Group by 347.8% in the 3rd quarter. Barclays PLC now owns 13,936 shares of the company’s stock valued at $31,000 after purchasing an additional 10,824 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 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 purchasing an additional 10,612 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Bridger Aerospace Group in the 4th quarter valued at $38,000. Finally, GM Advisory Group LLC acquired a new stake in shares of Bridger Aerospace Group in the 3rd quarter valued at $61,000. Institutional investors and hedge funds own 48.94% of the company’s stock.

About Bridger Aerospace Group

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.