Bowhead Specialty Holdings Inc. (NYSE:BOW) Short Interest Up 149.0% in September

Bowhead Specialty Holdings Inc. (NYSE:BOW) was the target of a significant growth in short interest in 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. Based on an average daily volume of 151,300 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.4% of the company’s stock are short sold.

Bowhead Specialty Trading Down 1.0 %

BOW stock traded down $0.27 during midday trading on Thursday, reaching $27.76. 112,007 shares of the company were exchanged, 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 company’s 50-day moving average price is $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 firm had revenue of $98.90 million during the quarter, compared to analyst estimates of $94.28 million. Bowhead Specialty’s revenue was up 51.0% on a year-over-year basis. On average, equities research analysts predict that Bowhead Specialty will post 1.3 earnings per share for the current year.

Hedge Funds Weigh In On Bowhead Specialty

A number of hedge funds have recently modified their holdings of BOW. Cubist Systematic Strategies LLC purchased a new position in shares of Bowhead Specialty during the second quarter worth about $385,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bowhead Specialty in the 2nd quarter valued at approximately $192,000. Ghisallo Capital Management LLC acquired a new position in shares of Bowhead Specialty in the second quarter valued at approximately $2,154,000. Point72 Asset Management L.P. acquired a new stake in shares of Bowhead Specialty during the second quarter worth $117,000. Finally, Driehaus Capital Management LLC purchased a new position in Bowhead Specialty in the 2nd quarter valued at $7,866,000.

Wall Street Analyst Weigh In

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

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.