Short Interest in Bowman Consulting Group Ltd. (NASDAQ:BWMN) Declines By 14.8%

Bowman Consulting Group Ltd. (NASDAQ:BWMN) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 379,500 shares, a drop of 14.8% from the February 28th total of 445,600 shares. Based on an average daily volume of 89,500 shares, the short-interest ratio is presently 4.2 days. Approximately 2.7% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BWMN shares. Robert W. Baird dropped their target price on shares of Bowman Consulting Group from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Bank of America decreased their price objective on shares of Bowman Consulting Group from $36.50 to $30.50 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Finally, B. Riley upgraded shares of Bowman Consulting Group to a “strong-buy” rating in a research note on Tuesday, March 18th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $33.83.

Insiders Place Their Bets

In other Bowman Consulting Group news, insider Robert Alan Hickey sold 2,500 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $22.46, for a total transaction of $56,150.00. Following the completion of the transaction, the insider now directly owns 188,177 shares in the company, valued at $4,226,455.42. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 20.40% of the company’s stock.

Institutional Investors Weigh In On Bowman Consulting Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Bowman Consulting Group by 9.0% in the third quarter. Geode Capital Management LLC now owns 326,306 shares of the company’s stock valued at $7,859,000 after acquiring an additional 27,056 shares during the last quarter. Barclays PLC boosted its stake in shares of Bowman Consulting Group by 210.4% in the 3rd quarter. Barclays PLC now owns 21,341 shares of the company’s stock valued at $513,000 after purchasing an additional 14,466 shares during the last quarter. State Street Corp boosted its stake in shares of Bowman Consulting Group by 5.8% in the 3rd quarter. State Street Corp now owns 255,259 shares of the company’s stock valued at $6,147,000 after purchasing an additional 13,904 shares during the last quarter. FMR LLC grew its position in shares of Bowman Consulting Group by 5.0% during the 3rd quarter. FMR LLC now owns 2,730,755 shares of the company’s stock worth $65,757,000 after buying an additional 128,981 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Bowman Consulting Group by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 32,031 shares of the company’s stock worth $799,000 after buying an additional 586 shares during the last quarter. Institutional investors own 63.20% of the company’s stock.

Bowman Consulting Group Stock Up 0.4 %

Shares of NASDAQ:BWMN opened at $21.91 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.16. The firm has a market cap of $378.25 million, a P/E ratio of -27.73 and a beta of 1.32. Bowman Consulting Group has a 12 month low of $17.90 and a 12 month high of $36.65. The company’s 50-day moving average price is $22.83 and its two-hundred day moving average price is $23.88.

Bowman Consulting Group (NASDAQ:BWMN) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Bowman Consulting Group had a negative net margin of 2.62% and a positive return on equity of 3.76%. The company had revenue of $113.22 million during the quarter, compared to analyst estimates of $110.00 million.

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.