Short Interest in NI Holdings, Inc. (NASDAQ:NODK) Drops By 26.5%

NI Holdings, Inc. (NASDAQ:NODK) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 30,088 shares, a decline of 26.5% from the December 15th total of 40,961 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 15,719 shares, the days-to-cover ratio is presently 1.9 days. Based on an average daily volume of 15,719 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.1% of the company’s shares are short sold.

NI Stock Performance

NASDAQ:NODK traded down $0.01 during mid-day trading on Friday, hitting $13.30. The company had a trading volume of 7,388 shares, compared to its average volume of 10,614. NI has a fifty-two week low of $12.01 and a fifty-two week high of $15.41. The firm has a market cap of $274.11 million, a P/E ratio of 102.31 and a beta of 0.38. The business’s fifty day moving average is $13.54 and its two-hundred day moving average is $13.32.

NI (NASDAQ:NODK) last announced its quarterly earnings results on Friday, November 7th. The company reported ($0.08) EPS for the quarter. NI had a net margin of 0.87% and a return on equity of 1.05%. The company had revenue of $76.57 million during the quarter.

Institutional Trading of NI

A number of large investors have recently made changes to their positions in NODK. Nisa Investment Advisors LLC lifted its holdings in NI by 150.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the company’s stock worth $25,000 after acquiring an additional 1,200 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of NI by 158.7% during the third quarter. Russell Investments Group Ltd. now owns 4,083 shares of the company’s stock worth $55,000 after purchasing an additional 2,505 shares during the period. AQR Capital Management LLC bought a new position in shares of NI during the 1st quarter valued at about $143,000. AE Wealth Management LLC acquired a new position in shares of NI in the 3rd quarter valued at approximately $151,000. Finally, Empowered Funds LLC increased its stake in NI by 3.8% during the 1st quarter. Empowered Funds LLC now owns 21,850 shares of the company’s stock worth $312,000 after purchasing an additional 796 shares in the last quarter. Institutional investors own 21.89% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of NI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, NI presently has a consensus rating of “Sell”.

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