Bridger Aerospace Group’s (BAER) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Bridger Aerospace Group (NASDAQ:BAER) in a research note issued to investors on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a $6.00 price objective on the stock.

Bridger Aerospace Group Price Performance

NASDAQ BAER opened at $2.98 on Wednesday. The business has a 50 day simple moving average of $2.61 and a 200 day simple moving average of $2.81. Bridger Aerospace Group has a one year low of $1.71 and a one year high of $6.61. The stock has a market capitalization of $161.07 million, a P/E ratio of -2.18 and a beta of -0.29.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new position in Bridger Aerospace Group in the second quarter worth approximately $36,000. Bank of New York Mellon Corp bought a new position in Bridger Aerospace Group in the second quarter worth approximately $50,000. Barclays PLC boosted its holdings in Bridger Aerospace Group by 347.8% in the third quarter. Barclays PLC now owns 13,936 shares of the company’s stock worth $31,000 after acquiring an additional 10,824 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Bridger Aerospace Group by 167.8% in the third quarter. JPMorgan Chase & Co. now owns 16,935 shares of the company’s stock worth $38,000 after acquiring an additional 10,612 shares in the last quarter. Finally, GM Advisory Group LLC bought a new position in Bridger Aerospace Group in the third quarter worth approximately $61,000. Institutional investors 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.