Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 816,600 shares, a growth of 26.3% from the April 30th total of 646,300 shares. Based on an average daily trading volume, of 306,600 shares, the days-to-cover ratio is presently 2.7 days. Approximately 4.1% of the company's stock are short sold.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in BOW. Summit Investment Advisors Inc. grew its stake in Bowhead Specialty by 66.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock valued at $43,000 after buying an additional 486 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Bowhead Specialty in the first quarter valued at $44,000. Nemes Rush Group LLC purchased a new position in shares of Bowhead Specialty during the 1st quarter valued at about $61,000. New York State Common Retirement Fund bought a new stake in shares of Bowhead Specialty in the 4th quarter worth approximately $64,000. Finally, US Bancorp DE bought a new stake in Bowhead Specialty in the fourth quarter worth $76,000.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Piper Sandler began coverage on Bowhead Specialty in a report on Wednesday, April 16th. They set an "overweight" rating and a $44.00 target price on the stock. Morgan Stanley raised their price target on Bowhead Specialty from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. boosted their target price on Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods raised their price objective on Bowhead Specialty from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Finally, JMP Securities upped their price target on shares of Bowhead Specialty from $38.00 to $40.00 and gave the company a "market outperform" rating in a research report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Bowhead Specialty has an average rating of "Moderate Buy" and an average price target of $39.67.
Get Our Latest Research Report on BOW
Bowhead Specialty Stock Performance
Shares of NYSE:BOW traded down $0.69 during midday trading on Wednesday, reaching $36.76. The company's stock had a trading volume of 177,853 shares, compared to its average volume of 199,053. The firm has a market capitalization of $1.20 billion and a price-to-earnings ratio of 28.06. Bowhead Specialty has a fifty-two week low of $23.70 and a fifty-two week high of $42.29. The firm has a 50 day moving average price of $38.99 and a two-hundred day moving average price of $36.03.
Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The firm had revenue of $174.85 million during the quarter, compared to the consensus estimate of $105.17 million. As a group, research analysts anticipate that Bowhead Specialty will post 1.36 earnings per share for the current year.
About Bowhead Specialty
(
Get Free Report)
Bowhead Specialty Holdings Inc provides specialty property and casualty insurance products in the United States. It underwrites casualty insurance solutions for risks in the construction, distribution, heavy manufacturing, real estate, and hospitality segments; professional liability insurance solutions for financial institutions, private and public directors and officers liability insurance, errors and omissions liability insurance, and cyber segments; and healthcare solutions for hospitals, senior care providers, managed care organizations, miscellaneous medical facilities, and healthcare management liability segments.
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