Bowhead Specialty Holdings Inc. (NYSE:BOW) Sees Significant Increase in Short Interest

Bowhead Specialty Holdings Inc. (NYSE:BOW) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 950,096 shares, a growth of 20.3% from the February 12th total of 789,713 shares. Based on an average daily trading volume, of 319,632 shares, the short-interest ratio is currently 3.0 days. Currently, 2.9% of the company’s shares are sold short. Currently, 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 319,632 shares, the short-interest ratio is currently 3.0 days.

Analyst Ratings Changes

Several research analysts have weighed in on BOW shares. Royal Bank Of Canada reduced their target price on Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Morgan Stanley reduced their target price on shares of Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, November 17th. Zacks Research upgraded Bowhead Specialty from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Keefe, Bruyette & Woods dropped their price target on Bowhead Specialty from $38.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 6th. Finally, Piper Sandler upped their price objective on Bowhead Specialty from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Bowhead Specialty has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Institutional Trading of Bowhead Specialty

Several institutional investors have recently modified their holdings of BOW. Langdon Equity Partners bought a new stake in shares of Bowhead Specialty in the 4th quarter valued at about $28,000. State of Alaska Department of Revenue bought a new stake in Bowhead Specialty in the third quarter valued at $42,000. CWM LLC raised its stake in Bowhead Specialty by 257.7% during the 4th quarter. CWM LLC now owns 1,481 shares of the company’s stock worth $42,000 after buying an additional 1,067 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Bowhead Specialty during the second quarter worth approximately $52,000. Finally, Royal Bank of Canada raised its holdings in Bowhead Specialty by 45.5% during the fourth quarter. Royal Bank of Canada now owns 2,065 shares of the company’s stock worth $59,000 after buying an additional 646 shares during the last quarter.

Bowhead Specialty Price Performance

NYSE BOW traded up $0.17 during trading on Tuesday, hitting $22.71. 193,528 shares of the company’s stock were exchanged, compared to its average volume of 264,997. The company has a market cap of $744.34 million, a PE ratio of 13.66, a P/E/G ratio of 0.68 and a beta of -1.06. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. Bowhead Specialty has a fifty-two week low of $21.93 and a fifty-two week high of $42.29. The stock’s 50 day moving average price is $24.52 and its two-hundred day moving average price is $26.23.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. The company had revenue of $151.68 million for the quarter, compared to analyst estimates of $145.99 million. Bowhead Specialty had a net margin of 9.75% and a return on equity of 13.27%. Research analysts expect that Bowhead Specialty will post 1.36 EPS for the current year.

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.