Short Interest in 1347 Property Insurance Holdings Inc (NASDAQ:PIH) Increases By 700.0%

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1347 Property Insurance Holdings Inc (NASDAQ:PIH) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 8,000 shares, a growth of 700.0% from the April 30th total of 1,000 shares. Based on an average trading volume of 10,600 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.2% of the company’s stock are sold short.

Separately, Boenning Scattergood reiterated a “buy” rating and set a $7.00 price objective on shares of 1347 Property Insurance in a research note on Tuesday, February 26th.

NASDAQ PIH opened at $5.60 on Wednesday. 1347 Property Insurance has a 12 month low of $3.75 and a 12 month high of $7.61. The firm has a market cap of $34.26 million, a price-to-earnings ratio of 25.45 and a beta of 0.57.

1347 Property Insurance (NASDAQ:PIH) last posted its quarterly earnings data on Tuesday, May 14th. The insurance provider reported ($0.04) EPS for the quarter. 1347 Property Insurance had a negative net margin of 1.69% and a negative return on equity of 0.11%. The company had revenue of $17.39 million for the quarter.

An institutional investor recently raised its position in 1347 Property Insurance stock. Deutsche Bank AG raised its stake in shares of 1347 Property Insurance Holdings Inc (NASDAQ:PIH) by 18.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,538 shares of the insurance provider’s stock after acquiring an additional 3,542 shares during the quarter. Deutsche Bank AG owned approximately 0.38% of 1347 Property Insurance worth $90,000 at the end of the most recent quarter. 38.98% of the stock is owned by institutional investors and hedge funds.

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1347 Property Insurance Company Profile

1347 Property Insurance Holdings, Inc, an insurance holding company, provides property and casualty insurance products to individuals in Louisiana, Florida, and Texas. The company offers homeowners' insurance, manufactured home insurance, dwelling fire insurance, and wind/hail insurance products, as well as reinsurance products.

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