NI (NASDAQ:NODK) Stock Passes Below 50 Day Moving Average – Here’s Why

NI Holdings, Inc. (NASDAQ:NODK)’s stock price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $15.47 and traded as low as $15.20. NI shares last traded at $15.54, with a volume of 26,418 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NI in a research report on Thursday, June 4th. Wall Street Zen upgraded NI from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

NI Price Performance

The firm’s 50 day moving average is $15.52 and its 200 day moving average is $14.05. The company has a market capitalization of $314.57 million, a PE ratio of -76.80 and a beta of 0.35.

NI (NASDAQ:NODK) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.60 earnings per share for the quarter. The business had revenue of $59.60 million during the quarter. NI had a negative net margin of 1.60% and a negative return on equity of 1.79%.

Institutional Trading of NI

Large investors have recently modified their holdings of the business. AQR Capital Management LLC purchased a new stake in NI in the 1st quarter worth approximately $143,000. Empowered Funds LLC raised its holdings in shares of NI by 3.8% during the first quarter. Empowered Funds LLC now owns 21,850 shares of the company’s stock valued at $312,000 after acquiring an additional 796 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of NI by 2.6% during the second quarter. Bridgeway Capital Management LLC now owns 73,753 shares of the company’s stock valued at $940,000 after acquiring an additional 1,903 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in NI by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 309,116 shares of the company’s stock worth $4,192,000 after acquiring an additional 4,006 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in NI by 158.7% in the third quarter. Russell Investments Group Ltd. now owns 4,083 shares of the company’s stock worth $55,000 after acquiring an additional 2,505 shares during the period. 21.89% of the stock is owned by institutional investors.

About NI

NI Holdings, Inc underwrites property and casualty insurance products in the United States. Its products include private passenger auto, non-standard automobile, homeowners, farm owners, crop hail and multi-peril crop, and liability insurance policies. The company was founded in 1946 and is headquartered in Fargo, North Dakota. NI Holdings, Inc operates as a subsidiary of Nodak Mutual Group, Inc