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

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 454,200 shares, an increase of 19.0% from the January 15th total of 381,600 shares. Based on an average trading volume of 154,100 shares, the days-to-cover ratio is presently 2.9 days. Currently, 2.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On Bowhead Specialty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BOW. Summit Investment Advisors Inc. boosted its stake in shares of Bowhead Specialty by 66.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock worth $43,000 after acquiring an additional 486 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Bowhead Specialty during the fourth quarter worth approximately $64,000. US Bancorp DE purchased a new position in shares of Bowhead Specialty during the 4th quarter valued at $76,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Bowhead Specialty during the fourth quarter worth $107,000. Finally, MetLife Investment Management LLC purchased a new position in Bowhead Specialty in the third quarter valued at about $123,000.

Bowhead Specialty Price Performance

Shares of NYSE:BOW traded down $0.28 during trading hours on Wednesday, hitting $31.75. The stock had a trading volume of 116,866 shares, compared to its average volume of 98,108. The stock's fifty day simple moving average is $33.32 and its 200 day simple moving average is $31.68. Bowhead Specialty has a 1-year low of $22.14 and a 1-year high of $37.81.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BOW. Keefe, Bruyette & Woods lifted their price objective on Bowhead Specialty from $36.00 to $44.00 and gave the stock a "market perform" rating in a report on Friday, January 10th. JMP Securities raised their target price on shares of Bowhead Specialty from $32.00 to $33.00 and gave the stock a "market outperform" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price target on shares of Bowhead Specialty from $26.00 to $30.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada raised their price objective on Bowhead Specialty from $32.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $33.60.

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.