Short Interest in NI Holdings, Inc. (NASDAQ:NODK) Rises By 87.7%

NI Holdings, Inc. (NASDAQ:NODK) was the recipient of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 57,199 shares, a growth of 87.7% from the February 26th total of 30,472 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 18,607 shares, the short-interest ratio is currently 3.1 days.

NI Stock Performance

NODK traded down $0.04 during trading on Thursday, hitting $12.91. The stock had a trading volume of 10,660 shares, compared to its average volume of 24,448. The firm has a market capitalization of $265.17 million, a P/E ratio of -26.35 and a beta of 0.39. The company’s 50-day moving average price is $13.27 and its 200 day moving average price is $13.42. NI has a twelve month low of $12.01 and a twelve month high of $14.70.

NI (NASDAQ:NODK) last released its earnings results on Friday, March 6th. The company reported ($0.15) EPS for the quarter. The firm had revenue of $60.99 million during the quarter. NI had a negative return on equity of 4.24% and a negative net margin of 3.65%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut NI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On NI

A number of hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in NI by 158.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,083 shares of the company’s stock valued at $55,000 after purchasing an additional 2,505 shares in the last quarter. Wells Fargo & Company MN increased its position in NI by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,677 shares of the company’s stock worth $102,000 after purchasing an additional 2,426 shares during the period. AQR Capital Management LLC purchased a new position in shares of NI during the 1st quarter worth approximately $143,000. AE Wealth Management LLC acquired a new stake in shares of NI in the 3rd quarter valued at approximately $151,000. Finally, Barclays PLC lifted its holdings in shares of NI by 11.9% in the 4th quarter. Barclays PLC now owns 12,749 shares of the company’s stock valued at $170,000 after buying an additional 1,359 shares during the period. Institutional investors and hedge funds own 21.89% of the company’s stock.

NI Company Profile

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