NI Holdings, Inc. (NASDAQ:NODK) Sees Large Drop in Short Interest

NI Holdings, Inc. (NASDAQ:NODK) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 21,400 shares, a decline of 16.1% from the March 31st total of 25,500 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 15,100 shares, the short-interest ratio is presently 1.4 days.

Institutional Investors Weigh In On NI

A hedge fund recently raised its stake in NI stock. Newtyn Management LLC raised its holdings in shares of NI Holdings, Inc. (NASDAQ:NODK) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470,000 shares of the company’s stock after acquiring an additional 10,000 shares during the period. NI makes up 1.5% of Newtyn Management LLC’s holdings, making the stock its 18th largest position. Newtyn Management LLC owned approximately 2.28% of NI worth $6,049,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 21.89% of the company’s stock.

NI Stock Up 1.7 %

Shares of NI stock traded up $0.25 during trading hours on Monday, hitting $15.22. 1,146 shares of the company’s stock traded hands, compared to its average volume of 14,787. NI has a twelve month low of $12.01 and a twelve month high of $16.55. The company has a market cap of $313.97 million, a PE ratio of -59.88 and a beta of 0.32. The stock has a 50 day simple moving average of $14.65 and a 200-day simple moving average of $13.54.

NI (NASDAQ:NODK) last posted its quarterly earnings data on Friday, March 15th. The company reported $0.32 earnings per share (EPS) for the quarter. NI had a negative return on equity of 2.25% and a negative net margin of 1.50%. The company had revenue of $94.41 million for the quarter.

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.