NI Holdings Inc (NASDAQ:NODK) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totalling 38,900 shares, an increase of 208.7% from the February 27th total of 12,600 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 39,800 shares, the days-to-cover ratio is presently 1.0 days.
Shares of NASDAQ NODK traded up $0.68 during midday trading on Thursday, reaching $11.94. 53,350 shares of the company were exchanged, compared to its average volume of 28,303. NI has a 1 year low of $10.15 and a 1 year high of $19.64. The stock has a fifty day simple moving average of $14.07 and a 200 day simple moving average of $16.13. The stock has a market cap of $270.96 million, a P/E ratio of 10.03 and a beta of 0.21.
Several equities analysts have issued reports on NODK shares. TheStreet lowered NI from a “b-” rating to a “c” rating in a report on Monday, December 16th. BidaskClub raised NI from a “hold” rating to a “buy” rating in a report on Wednesday, March 18th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. grew its holdings in shares of NI by 54.0% during the fourth quarter. Citigroup Inc. now owns 2,056 shares of the company’s stock worth $35,000 after buying an additional 721 shares during the last quarter. Denali Advisors LLC grew its holdings in shares of NI by 4,825.2% during the fourth quarter. Denali Advisors LLC now owns 7,043 shares of the company’s stock worth $121,000 after buying an additional 6,900 shares during the last quarter. Barclays PLC grew its holdings in shares of NI by 99.8% during the fourth quarter. Barclays PLC now owns 9,726 shares of the company’s stock worth $167,000 after buying an additional 4,858 shares during the last quarter. Lincoln National Corp purchased a new position in shares of NI during the fourth quarter worth about $172,000. Finally, Zebra Capital Management LLC purchased a new position in shares of NI during the third quarter worth about $184,000. 21.83% of the stock is currently owned by hedge funds and other institutional investors.
NI Company Profile
NI Holdings, Inc underwrites property and casualty insurance products in North Dakota, South Dakota, Nebraska, Minnesota, Nevada, Arizona, and Illinois. Its products include multi-peril crop, crop hail, private passenger automobile, farm owners, homeowners, and commercial property and liability insurance policies, as well as non-standard automobile insurance products.
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