Bowman Consulting Group (NASDAQ:BWMN) Stock Price Down 18.3% – Time to Sell?

Bowman Consulting Group Ltd. (NASDAQ:BWMN) shares traded down 18.3% during trading on Thursday . The company traded as low as $36.00 and last traded at $36.3050. 57,610 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 107,743 shares. The stock had previously closed at $44.43.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BWMN. B. Riley raised 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. Weiss Ratings reissued a “hold (c)” rating on shares of Bowman Consulting Group in a report on Wednesday, October 8th. Zacks Research cut shares of Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Finally, Wall Street Zen upgraded shares of Bowman Consulting Group from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.17.

Bowman Consulting Group Stock Performance

The firm’s 50-day moving average price is $42.12 and its 200-day moving average price is $34.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $561.35 million, a P/E ratio of 34.99 and a beta of 1.31.

Insider Activity at Bowman Consulting Group

In other news, CFO Bruce J. Labovitz sold 10,000 shares of Bowman Consulting Group 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 sale, the chief financial officer directly owned 385,560 shares of the company’s stock, valued at approximately $16,336,177.20. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Daniel Swayze sold 1,350 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $41.33, for a total value of $55,795.50. Following the completion of the sale, the chief operating officer owned 10,954 shares in the company, valued at $452,728.82. This represents a 10.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 64,350 shares of company stock valued at $2,728,816. 17.42% of the stock is currently owned by insiders.

Institutional Trading of Bowman Consulting Group

A number of large investors have recently added to or reduced their stakes in the company. Swedbank AB increased its holdings in shares of Bowman Consulting Group by 108.2% in 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 last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Bowman Consulting Group by 998.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 100,309 shares of the company’s stock valued at $4,249,000 after acquiring an additional 91,181 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Bowman Consulting Group in the second quarter worth about $2,022,000. Cetera Investment Advisers increased its stake in Bowman Consulting Group by 527.6% during the first quarter. Cetera Investment Advisers now owns 82,343 shares of the company’s stock worth $1,798,000 after acquiring an additional 69,223 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in Bowman Consulting Group during the second quarter worth approximately $1,747,000. Institutional investors own 63.20% of the company’s stock.

About Bowman Consulting Group

Bowman Consulting Group Ltd. provides a range of real estate, energy, infrastructure, and environmental management solutions in the United States. It offers civil and site engineering services, such as conceptual land planning, environmental consulting and permitting, planning/zoning and entitlements, roadway and highway designs, erosion and sediment designs, stormwater management designs, construction administration, traffic studies, floodplain studies, and utility relocation designs; and commissioning and energy efficiency services comprise construction observation, direct systems functional performance testing, system development readiness checklist, post occupancy review, review of construction documents, deferred/seasonal functional testing, final commissioning report, and commissioning review of submittals.