Canaccord Genuity Group Forecasts Strong Price Appreciation for Bridger Aerospace Group (NASDAQ:BAER) Stock

Bridger Aerospace Group (NASDAQ:BAER) had its price objective increased by equities research analysts at Canaccord Genuity Group from $5.25 to $5.75 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 69.12% from the stock’s current price.

Bridger Aerospace Group Stock Up 1.5 %

NASDAQ:BAER opened at $3.40 on Wednesday. The stock has a fifty day simple moving average of $2.72 and a 200 day simple moving average of $3.29. The firm has a market capitalization of $180.78 million, a price-to-earnings ratio of -2.45 and a beta of -0.29. Bridger Aerospace Group has a 1-year low of $1.71 and a 1-year high of $7.82.

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

Insider Transactions at Bridger Aerospace Group

In other Bridger Aerospace Group news, CEO Samuel Carl Davis sold 19,323 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $2.56, for a total value of $49,466.88. Following the completion of the sale, the chief executive officer now directly owns 474,352 shares of the company’s stock, valued at $1,214,341.12. The trade was a 3.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James J. Muchmore sold 26,936 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $2.58, for a total transaction of $69,494.88. Following the transaction, the executive vice president now owns 844,211 shares in the company, valued at $2,178,064.38. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,614 shares of company stock valued at $252,811 in the last three months. Corporate insiders own 76.22% of the company’s stock.

Institutional Trading of Bridger Aerospace Group

Several large investors have recently made changes to their positions in BAER. Rhumbline Advisers acquired a new stake in Bridger Aerospace Group in the 2nd quarter worth approximately $36,000. Bank of New York Mellon Corp bought a new position in shares of Bridger Aerospace Group in the second quarter valued at approximately $50,000. GM Advisory Group LLC acquired a new stake in shares of Bridger Aerospace Group in the third quarter worth $61,000. Aspiriant LLC bought a new stake in shares of Bridger Aerospace Group during the 3rd quarter worth $145,000. Finally, Mill Creek Capital Advisors LLC bought a new stake in shares of Bridger Aerospace Group during the 3rd quarter worth $433,000. Institutional investors own 48.94% of the company’s stock.

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.