Bowhead Specialty (NYSE:BOW) Stock Price Down 5.4% - Time to Sell?

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report)'s share price traded down 5.4% during mid-day trading on Monday . The company traded as low as $34.43 and last traded at $34.44. 24,362 shares changed hands during trading, a decline of 88% from the average session volume of 198,404 shares. The stock had previously closed at $36.39.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Bowhead Specialty from $30.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. JMP Securities boosted their price objective on shares of Bowhead Specialty from $38.00 to $40.00 and gave the stock a "market outperform" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods raised their target price on shares of Bowhead Specialty from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Morgan Stanley boosted 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. Finally, Piper Sandler started coverage on Bowhead Specialty in a research note on Wednesday, April 16th. They issued an "overweight" rating and a $44.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.67.

Bowhead Specialty Price Performance

The stock has a market capitalization of $1.15 billion and a price-to-earnings ratio of 26.91. The company's 50-day simple moving average is $38.80 and its 200-day simple moving average is $36.07.

Bowhead Specialty (NYSE:BOW - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $174.85 million for the quarter, compared to analyst estimates of $105.17 million. Research analysts expect that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Hedge Funds Weigh In On Bowhead Specialty

Institutional investors and hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in Bowhead Specialty in the 1st quarter worth about $44,000. Summit Investment Advisors Inc. grew its position in Bowhead Specialty by 66.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock worth $43,000 after buying an additional 486 shares in the last quarter. Nemes Rush Group LLC acquired a new position in Bowhead Specialty in the 1st quarter valued at $61,000. New York State Common Retirement Fund bought a new stake in shares of Bowhead Specialty during the 4th quarter valued at $64,000. Finally, US Bancorp DE bought a new stake in Bowhead Specialty during the fourth quarter worth about $76,000.

About Bowhead Specialty

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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