Bowman Consulting Group (NASDAQ:BWMN) Shares Gap Down – Here’s Why

Bowman Consulting Group Ltd. (NASDAQ:BWMN)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $32.88, but opened at $31.30. Bowman Consulting Group shares last traded at $31.28, with a volume of 10,993 shares changing hands.

Analyst Ratings Changes

BWMN has been the topic of a number of research analyst reports. Roth Mkm set a $58.00 price target on Bowman Consulting Group and gave the company a “buy” rating in a report on Thursday, May 7th. Robert W. Baird lowered their target price on shares of Bowman Consulting Group from $43.00 to $37.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. JPMorgan Chase & Co. raised their price target on shares of Bowman Consulting Group from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings cut shares of Bowman Consulting Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Finally, Wall Street Zen cut shares of Bowman Consulting Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $47.50.

Bowman Consulting Group Stock Performance

The business’s fifty day moving average is $30.47 and its 200-day moving average is $33.52. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.22. The company has a market cap of $549.38 million, a PE ratio of 52.29, a P/E/G ratio of 4.14 and a beta of 1.36.

Bowman Consulting Group (NASDAQ:BWMN) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.07). The business had revenue of $126.48 million during the quarter, compared to the consensus estimate of $114.49 million. Bowman Consulting Group had a return on equity of 3.98% and a net margin of 2.02%. As a group, research analysts predict that Bowman Consulting Group Ltd. will post 0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bowman Consulting Group news, Director Raymond Jr. Vicks sold 1,230 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $33.34, for a total value of $41,008.20. Following the completion of the sale, the director owned 18,143 shares in the company, valued at $604,887.62. This represents a 6.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary Bowman sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $30.71, for a total value of $383,875.00. Following the completion of the transaction, the chief executive officer directly owned 906,575 shares in the company, valued at $27,840,918.25. This trade represents a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 21,230 shares of company stock worth $655,208. 17.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Bowman Consulting Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in Bowman Consulting Group during the 3rd quarter worth approximately $40,000. New York State Teachers Retirement System purchased a new stake in shares of Bowman Consulting Group in the fourth quarter worth $42,000. Tower Research Capital LLC TRC raised its position in shares of Bowman Consulting Group by 244.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company’s stock valued at $66,000 after purchasing an additional 1,633 shares during the period. Quantbot Technologies LP purchased a new position in shares of Bowman Consulting Group during the 3rd quarter valued at $175,000. Finally, Strs Ohio purchased a new position in shares of Bowman Consulting Group during the 3rd quarter valued at $182,000. 63.20% of the stock is owned by hedge funds and other 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.