Short Interest in Bowhead Specialty Holdings Inc. (NYSE:BOW) Grows By 149.0%

Bowhead Specialty Holdings Inc. (NYSE:BOW) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 74,200 shares, a growth of 149.0% from the August 31st total of 29,800 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average trading volume of 151,300 shares, the days-to-cover ratio is currently 0.5 days.

Bowhead Specialty Trading Down 1.0 %

NYSE:BOW traded down $0.27 during trading hours on Thursday, reaching $27.76. The company had a trading volume of 112,007 shares, compared to its average volume of 165,924. Bowhead Specialty has a 1-year low of $22.14 and a 1-year high of $32.55. The stock has a 50 day moving average price of $28.61.

Bowhead Specialty (NYSE:BOW) last announced its earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $98.90 million for the quarter, compared to analysts’ expectations of $94.28 million. The company’s revenue for the quarter was up 51.0% on a year-over-year basis. Equities research analysts predict that Bowhead Specialty will post 1.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BOW shares. Keefe, Bruyette & Woods assumed coverage on shares of Bowhead Specialty in a report on Monday, June 17th. They set a “market perform” rating and a $30.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 target price on shares of Bowhead Specialty in a report on Wednesday, August 7th. JMP Securities started coverage on shares of Bowhead Specialty in a report on Monday, June 17th. They issued an “outperform” rating and a $31.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Bowhead Specialty in a research report on Monday, June 17th. They issued a “neutral” rating and a $27.00 price objective on the stock. Finally, Morgan Stanley started coverage on shares of Bowhead Specialty in a research report on Monday, June 17th. They set an “equal weight” rating and a $26.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Bowhead Specialty currently has a consensus rating of “Hold” and a consensus target price of $29.20.

Institutional Investors Weigh In On Bowhead Specialty

Several institutional investors and hedge funds have recently added to or reduced their stakes in BOW. Point72 Asset Management L.P. acquired a new stake in shares of Bowhead Specialty in the second quarter valued at approximately $117,000. Sandia Investment Management LP purchased a new position in shares of Bowhead Specialty during the 2nd quarter worth $127,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Bowhead Specialty during the 2nd quarter valued at about $192,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Bowhead Specialty in the second quarter valued at about $253,000. Finally, TD Asset Management Inc acquired a new stake in Bowhead Specialty during the second quarter worth about $265,000.

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.