Bowman Consulting Group (NASDAQ:BWMN) Sees Large Volume Increase - What's Next?

Shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) saw strong trading volume on Thursday . 296,306 shares were traded during mid-day trading, an increase of 206% from the previous session's volume of 96,929 shares.The stock last traded at $35.35 and had previously closed at $33.95.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Bowman Consulting Group from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen cut Bowman Consulting Group from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, B. Riley upped their price target on Bowman Consulting Group from $33.00 to $43.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Bowman Consulting Group currently has an average rating of "Moderate Buy" and an average target price of $36.38.

Bowman Consulting Group Stock Down 2.0%

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $610.29 million, a PE ratio of 272.46, a price-to-earnings-growth ratio of 5.11 and a beta of 1.29. The company has a fifty day moving average price of $28.66 and a 200 day moving average price of $24.99.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.21). Bowman Consulting Group had a return on equity of 2.74% and a net margin of 0.54%.

Bowman Consulting Group announced that its Board of Directors has authorized a stock buyback plan on Friday, June 6th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Bowman Consulting Group news, insider Robert Alan Hickey sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $26.70, for a total value of $133,500.00. Following the completion of the sale, the insider owned 176,685 shares in the company, valued at approximately $4,717,489.50. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 6,024 shares of company stock valued at $162,514 in the last ninety days. Insiders own 17.42% of the company's stock.

Hedge Funds Weigh In On Bowman Consulting Group

A number of hedge funds and other institutional investors have recently made changes to their positions in BWMN. BNP Paribas Financial Markets bought a new position in shares of Bowman Consulting Group during the fourth quarter valued at approximately $42,000. Brooklyn Investment Group bought a new position in shares of Bowman Consulting Group during the first quarter valued at approximately $45,000. GAMMA Investing LLC raised its holdings in shares of Bowman Consulting Group by 1,856.3% during the first quarter. GAMMA Investing LLC now owns 4,519 shares of the company's stock valued at $99,000 after acquiring an additional 4,288 shares in the last quarter. NBC Securities Inc. raised its holdings in Bowman Consulting Group by 100,080.0% in the first quarter. NBC Securities Inc. now owns 5,009 shares of the company's stock worth $109,000 after purchasing an additional 5,004 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Bowman Consulting Group by 55.0% in the fourth quarter. Wells Fargo & Company MN now owns 6,524 shares of the company's stock worth $163,000 after purchasing an additional 2,316 shares in the last quarter. Institutional investors own 63.20% of the company's stock.

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.