Short Interest in NI Holdings, Inc. (NASDAQ:NODK) Rises By 44.0%

NI Holdings, Inc. (NASDAQ:NODK) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 31,400 shares, a growth of 44.0% from the February 28th total of 21,800 shares. Based on an average daily volume of 15,500 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.5% of the company’s shares are short sold.

NI Stock Performance

NASDAQ:NODK traded up $0.01 during mid-day trading on Monday, hitting $14.26. The company had a trading volume of 13,079 shares, compared to its average volume of 18,289. The firm has a market cap of $294.93 million, a P/E ratio of -50.93 and a beta of 0.33. NI has a fifty-two week low of $11.15 and a fifty-two week high of $17.24. The business’s fifty day moving average is $14.46 and its two-hundred day moving average is $15.24.

NI (NASDAQ:NODK) last posted its quarterly earnings results on Friday, March 7th. The company reported $0.47 earnings per share (EPS) for the quarter. NI had a negative net margin of 1.63% and a positive return on equity of 1.16%. The firm had revenue of $73.91 million for the quarter.

Hedge Funds Weigh In On NI

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of NI by 44.0% during the 3rd quarter. Barclays PLC now owns 24,687 shares of the company’s stock worth $387,000 after acquiring an additional 7,549 shares during the period. Empowered Funds LLC acquired a new stake in NI during the 4th quarter valued at $331,000. Geode Capital Management LLC boosted its position in NI by 1.9% during the third quarter. Geode Capital Management LLC now owns 169,290 shares of the company’s stock worth $2,655,000 after purchasing an additional 3,092 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of NI by 108.9% in the third quarter. JPMorgan Chase & Co. now owns 15,391 shares of the company’s stock valued at $241,000 after purchasing an additional 8,025 shares during the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in shares of NI in the fourth quarter valued at about $1,116,000. Institutional investors 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.