Bowman Consulting Group (NASDAQ:BWMN) Shares Down 18.3% – What’s Next?

Bowman Consulting Group Ltd. (NASDAQ:BWMN) shares traded down 18.3% during trading on Thursday . The stock traded as low as $36.00 and last traded at $36.3050. 57,610 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 107,743 shares. The stock had previously closed at $44.43.

Analysts Set New Price Targets

Several analysts recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Bowman Consulting Group in a research report on Wednesday, October 8th. Zacks Research cut Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Wall Street Zen upgraded Bowman Consulting Group from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Finally, B. Riley lifted their price target on Bowman Consulting Group from $43.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.17.

Bowman Consulting Group Trading Down 19.7%

The firm has a market cap of $615.50 million, a price-to-earnings ratio of 59.97 and a beta of 1.31. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $42.48 and a 200 day moving average price of $34.13.

Insider Transactions at Bowman Consulting Group

In other Bowman Consulting Group news, CFO Bruce J. Labovitz sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $42.37, for a total transaction of $423,700.00. Following the transaction, the chief financial officer directly owned 385,560 shares in the company, valued at $16,336,177.20. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary Bowman sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $42.27, for a total value of $317,025.00. Following the transaction, the chief executive officer owned 1,383,338 shares in the company, valued at approximately $58,473,697.26. This trade represents a 0.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,350 shares of company stock worth $2,728,816 in the last ninety days. Company insiders own 17.42% of the company’s stock.

Hedge Funds Weigh In On Bowman Consulting Group

Institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new position in shares of Bowman Consulting Group in the third quarter worth about $40,000. Ameritas Investment Partners Inc. increased its stake in shares of Bowman Consulting Group by 28.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,435 shares of the company’s stock worth $41,000 after purchasing an additional 317 shares during the period. Brooklyn Investment Group bought a new position in Bowman Consulting Group during the first quarter valued at about $45,000. Tower Research Capital LLC TRC increased its stake in Bowman Consulting Group by 244.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company’s stock valued at $66,000 after acquiring an additional 1,633 shares during the period. Finally, AlphaQuest LLC bought a new position in Bowman Consulting Group during the second quarter valued at about $103,000. 63.20% of the stock is currently owned by institutional investors.

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.