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

Bowman Consulting Group Ltd. (NASDAQ:BWMN) saw a large decline in short interest in October. As of October 15th, there was short interest totalling 514,200 shares, a decline of 5.6% from the September 30th total of 544,600 shares. Based on an average daily volume of 110,300 shares, the short-interest ratio is presently 4.7 days. Approximately 3.5% of the company’s stock are sold short.

Bowman Consulting Group Stock Performance

Shares of NASDAQ:BWMN traded down $0.78 during mid-day trading on Thursday, reaching $20.25. 34,815 shares of the company traded hands, compared to its average volume of 95,424. Bowman Consulting Group has a 52 week low of $19.92 and a 52 week high of $42.90. The firm has a market cap of $368.65 million, a PE ratio of -28.04 and a beta of 1.09. The company’s 50 day moving average price is $22.90 and its 200-day moving average price is $28.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.26 and a quick ratio of 1.26.

Bowman Consulting Group (NASDAQ:BWMN) last released its earnings results on Tuesday, August 6th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). Bowman Consulting Group had a negative net margin of 2.67% and a positive return on equity of 4.40%. The firm had revenue of $104.50 million for the quarter, compared to analysts’ expectations of $113.01 million. On average, equities analysts expect that Bowman Consulting Group will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Michael Bruen sold 5,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $31.29, for a total transaction of $156,450.00. Following the sale, the president now owns 375,739 shares in the company, valued at $11,756,873.31. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Bowman Consulting Group news, insider Robert Alan Hickey sold 1,444 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $22.09, for a total value of $31,897.96. Following the completion of the transaction, the insider now owns 196,888 shares of the company’s stock, valued at approximately $4,349,255.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael Bruen sold 5,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $31.29, for a total transaction of $156,450.00. Following the transaction, the president now owns 375,739 shares in the company, valued at $11,756,873.31. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,346 shares of company stock worth $375,487 in the last quarter. Corporate insiders own 20.40% of the company’s stock.

Institutional Trading of Bowman Consulting Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pembroke Management LTD lifted its position in shares of Bowman Consulting Group by 10.0% in the third quarter. Pembroke Management LTD now owns 711,648 shares of the company’s stock worth $17,136,000 after buying an additional 64,617 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in Bowman Consulting Group by 21.3% in the third quarter. Conestoga Capital Advisors LLC now owns 46,970 shares of the company’s stock worth $1,131,000 after purchasing an additional 8,245 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Bowman Consulting Group during the second quarter valued at $404,000. Point72 Asset Management L.P. bought a new position in Bowman Consulting Group during the second quarter valued at $96,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Bowman Consulting Group by 46.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 76,581 shares of the company’s stock worth $2,434,000 after buying an additional 24,244 shares during the last quarter. Institutional investors own 63.20% of the company’s stock.

Wall Street Analyst Weigh In

BWMN has been the topic of a number of research analyst reports. Robert W. Baird lowered their price objective on shares of Bowman Consulting Group from $37.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Roth Mkm lowered their price target on Bowman Consulting Group from $47.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Bowman Consulting Group has an average rating of “Buy” and a consensus target price of $40.10.

About Bowman Consulting Group

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.