Bridger Aerospace Group (NASDAQ:BAER) Trading Down 10.9%

Bridger Aerospace Group Holdings, Inc. (NASDAQ:BAER)’s stock price dropped 10.9% during mid-day trading on Monday . The company traded as low as $2.40 and last traded at $2.45. Approximately 193,100 shares were traded during trading, an increase of 338% from the average daily volume of 44,069 shares. The stock had previously closed at $2.75.

Analyst Ratings Changes

BAER has been the subject of a number of research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.25 price objective on shares of Bridger Aerospace Group in a research note on Tuesday, August 13th. Canaccord Genuity Group assumed coverage on shares of Bridger Aerospace Group in a research report on Monday, June 24th. They issued a “buy” rating and a $5.50 price target for the company.

Bridger Aerospace Group Stock Down 10.9 %

The stock has a market cap of $115.18 million, a PE ratio of -1.40 and a beta of -0.16. The stock has a fifty day moving average of $3.02 and a 200-day moving average of $3.94.

Bridger Aerospace Group (NASDAQ:BAER) last announced its earnings results on Monday, August 12th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.08). The business had revenue of $13.01 million during the quarter.

Hedge Funds Weigh In On Bridger Aerospace Group

Several institutional investors have recently bought and sold shares of BAER. Peterson Wealth Advisors LLC acquired a new stake in shares of Bridger Aerospace Group in the 1st quarter worth $976,000. Rhumbline Advisers purchased a new position in Bridger Aerospace Group during the second quarter worth about $36,000. Finally, Bank of New York Mellon Corp acquired a new stake in Bridger Aerospace Group in the second quarter valued at about $50,000. 48.94% of the stock is owned by institutional investors and hedge funds.

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.