Bowhead Specialty Holdings Inc. (NYSE:BOW) Short Interest Update

Bowhead Specialty Holdings Inc. (NYSE:BOW) saw a significant decrease in short interest in February. As of February 13th, there was short interest totaling 789,713 shares, a decrease of 26.9% from the January 29th total of 1,080,981 shares. Based on an average daily volume of 202,873 shares, the short-interest ratio is currently 3.9 days. Approximately 2.4% of the shares of the stock are short sold. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily volume of 202,873 shares, the short-interest ratio is currently 3.9 days.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Bowhead Specialty

Several institutional investors have recently made changes to their positions in BOW. Royal Bank of Canada boosted its position in shares of Bowhead Specialty by 112.7% during the 1st quarter. Royal Bank of Canada now owns 5,406 shares of the company’s stock valued at $219,000 after acquiring an additional 2,864 shares during the last quarter. AQR Capital Management LLC bought a new stake in Bowhead Specialty in the 1st quarter worth $430,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Bowhead Specialty by 42.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,389 shares of the company’s stock valued at $382,000 after purchasing an additional 2,802 shares during the period. Millennium Management LLC increased its stake in shares of Bowhead Specialty by 75.8% during the first quarter. Millennium Management LLC now owns 250,277 shares of the company’s stock valued at $10,174,000 after buying an additional 107,896 shares during the period. Finally, NewEdge Advisors LLC purchased a new position in Bowhead Specialty during the 1st quarter valued at $206,000.

Bowhead Specialty Stock Down 3.1%

Shares of BOW traded down $0.78 during trading hours on Tuesday, hitting $24.79. The stock had a trading volume of 124,648 shares, compared to its average volume of 243,531. The firm has a market capitalization of $812.62 million, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 0.77 and a beta of -1.06. Bowhead Specialty has a 1-year low of $22.15 and a 1-year high of $42.29. The firm has a 50 day simple moving average of $25.51 and a 200-day simple moving average of $26.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.52 and a quick ratio of 0.52.

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

Bowhead Specialty Company Profile

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.