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

Bowman Consulting Group Ltd. (NASDAQ:BWMN)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $35.57, but opened at $33.81. Bowman Consulting Group shares last traded at $34.12, with a volume of 1,987 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BWMN shares. Roth Capital upped their price target on Bowman Consulting Group from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Wall Street Zen lowered shares of Bowman Consulting Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Bowman Consulting Group in a research report on Monday, December 15th. Zacks Research lowered shares of Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Finally, B. Riley lifted their price objective on Bowman Consulting Group from $43.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.13.

Bowman Consulting Group Stock Up 2.5%

The stock has a market capitalization of $596.40 million, a price-to-earnings ratio of 37.04, a P/E/G ratio of 2.07 and a beta of 1.32. The firm’s fifty day simple moving average is $37.73 and its 200 day simple moving average is $36.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.30 and a current ratio of 1.30.

Bowman Consulting Group (NASDAQ:BWMN) last released its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.23. The firm had revenue of $112.09 million during the quarter, compared to analysts’ expectations of $130.45 million. Bowman Consulting Group had a return on equity of 6.30% and a net margin of 3.33%.

Insiders Place Their Bets

In other 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 value of $423,700.00. Following the completion of the transaction, the chief financial officer owned 385,560 shares in the company, valued at $16,336,177.20. This trade represents a 2.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary Bowman sold 12,500 shares of Bowman Consulting Group stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $35.25, for a total value of $440,625.00. Following the completion of the sale, the chief executive officer directly owned 892,443 shares in the company, valued at approximately $31,458,615.75. This represents a 1.38% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 80,000 shares of company stock valued at $3,254,900. 17.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BWMN. Goldman Sachs Group Inc. increased its holdings in shares of Bowman Consulting Group by 4.6% in the first quarter. Goldman Sachs Group Inc. now owns 50,176 shares of the company’s stock valued at $1,095,000 after purchasing an additional 2,203 shares during the last quarter. Swedbank AB boosted its holdings in shares of Bowman Consulting Group by 108.2% during the 2nd quarter. Swedbank AB now owns 416,492 shares of the company’s stock worth $11,974,000 after buying an additional 216,492 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Bowman Consulting Group in the 2nd quarter valued at about $231,000. Asset Management One Co. Ltd. bought a new position in Bowman Consulting Group in the 2nd quarter valued at about $1,747,000. Finally, Nuveen LLC acquired a new stake in Bowman Consulting Group during the first quarter worth approximately $566,000. 63.20% of the stock is currently owned by institutional investors.

About Bowman Consulting Group

Bowman Consulting Group Ltd. (NASDAQ: BWMN) is a multidisciplinary professional services firm that provides engineering, environmental, planning and surveying services to public and private sector clients. Its service offerings encompass civil, geotechnical and environmental engineering; land development planning and permitting; construction management; survey and geospatial services; and ecological and water resources consulting. The firm supports infrastructure, real estate, energy, utilities and telecommunications projects, delivering site characterization, design, permitting and construction-phase oversight.

Since its founding in 1980, Bowman Consulting Group has grown organically and through strategic acquisitions to expand its technical capabilities and geographic footprint.