Bowman Consulting Group Ltd. (NASDAQ:BWMN) Sees Significant Growth in Short Interest

Bowman Consulting Group Ltd. (NASDAQ:BWMN) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 482,100 shares, a growth of 22.6% from the May 31st total of 393,100 shares. Based on an average trading volume of 108,700 shares, the days-to-cover ratio is currently 4.4 days. Currently, 3.4% of the shares of the stock are short sold.

Bowman Consulting Group Stock Down 3.3 %

Shares of NASDAQ BWMN traded down $1.04 during trading hours on Monday, hitting $30.75. The stock had a trading volume of 84,335 shares, compared to its average volume of 93,484. The firm’s 50-day moving average price is $31.61 and its two-hundred day moving average price is $33.17. Bowman Consulting Group has a 52 week low of $25.52 and a 52 week high of $42.90. The company has a market capitalization of $543.35 million, a P/E ratio of -46.81 and a beta of 1.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.21 and a current ratio of 1.21.

Bowman Consulting Group (NASDAQ:BWMN) last posted its earnings results on Monday, May 6th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.18. The company had revenue of $94.91 million during the quarter, compared to the consensus estimate of $93.51 million. Bowman Consulting Group had a negative net margin of 2.43% and a positive return on equity of 5.63%. Analysts anticipate that Bowman Consulting Group will post 0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BWMN shares. Baird R W upgraded Bowman Consulting Group to a “strong-buy” rating in a report on Monday, June 3rd. Bank of America assumed coverage on Bowman Consulting Group in a research report on Friday, May 24th. They set a “buy” rating and a $36.50 price objective for the company. DA Davidson lifted their target price on Bowman Consulting Group from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. B. Riley reissued a “buy” rating and issued a $47.00 price target (up from $44.00) on shares of Bowman Consulting Group in a research report on Wednesday, March 13th. Finally, Robert W. Baird began coverage on shares of Bowman Consulting Group in a research report on Monday, June 3rd. They set an “outperform” rating and a $37.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $42.50.

Insider Buying and Selling at Bowman Consulting Group

In other Bowman Consulting Group news, CFO Bruce J. Labovitz sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $30.79, for a total value of $307,900.00. Following the transaction, the chief financial officer now owns 283,288 shares of the company’s stock, valued at $8,722,437.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Raymond Jr. Vicks sold 1,230 shares of Bowman Consulting Group stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $30.95, for a total value of $38,068.50. Following the transaction, the director now directly owns 3,224 shares of the company’s stock, valued at $99,782.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bruce J. Labovitz sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $30.79, for a total transaction of $307,900.00. Following the completion of the sale, the chief financial officer now owns 283,288 shares of the company’s stock, valued at approximately $8,722,437.52. The disclosure for this sale can be found here. In the last three months, insiders sold 36,230 shares of company stock valued at $1,135,456. 20.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Bowman Consulting Group

Institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new position in shares of Bowman Consulting Group during the 3rd quarter valued at about $208,000. NBC Securities Inc. bought a new position in shares of Bowman Consulting Group in the fourth quarter worth about $214,000. Millrace Asset Group Inc. lifted its holdings in shares of Bowman Consulting Group by 58.0% during the fourth quarter. Millrace Asset Group Inc. now owns 53,444 shares of the company’s stock worth $1,898,000 after buying an additional 19,617 shares during the last quarter. Polen Capital Management LLC bought a new position in Bowman Consulting Group during the fourth quarter worth $2,010,000. Finally, Norden Group LLC acquired a new position in Bowman Consulting Group during the 1st quarter valued at $207,000. 63.20% of the stock is currently owned by institutional investors.

Bowman Consulting Group Company Profile

Bowman Consulting Group Ltd. provides a range of real estate, energy, infrastructure, and environmental management solutions in the United States. It offers civil and site engineering services, such as conceptual land planning, environmental consulting and permitting, planning/zoning and entitlements, roadway and highway designs, erosion and sediment designs, stormwater management designs, construction administration, traffic studies, floodplain studies, and utility relocation designs; and commissioning and energy efficiency services comprise construction observation, direct systems functional performance testing, system development readiness checklist, post occupancy review, review of construction documents, deferred/seasonal functional testing, final commissioning report, and commissioning review of submittals.