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

NI Holdings, Inc. (NASDAQ:NODK) saw a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 31,049 shares, a decline of 14.4% from the January 15th total of 36,288 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 11,040 shares, the days-to-cover ratio is presently 2.8 days. Based on an average daily trading volume, of 11,040 shares, the days-to-cover ratio is presently 2.8 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Investors Weigh In On NI

Institutional investors and hedge funds have recently bought and sold shares of the business. M3F Inc. boosted its stake in shares of NI by 3.8% in the second quarter. M3F Inc. now owns 1,463,721 shares of the company’s stock worth $18,648,000 after acquiring an additional 53,877 shares during the period. Dimensional Fund Advisors LP lifted its holdings in NI by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 325,296 shares of the company’s stock worth $4,327,000 after purchasing an additional 16,180 shares in the last quarter. Geode Capital Management LLC boosted its stake in NI by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 173,765 shares of the company’s stock worth $2,311,000 after purchasing an additional 2,292 shares during the period. Orchard Capital Management LLC grew its holdings in NI by 3.6% during the 3rd quarter. Orchard Capital Management LLC now owns 118,817 shares of the company’s stock valued at $1,611,000 after buying an additional 4,085 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in NI by 3.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 79,234 shares of the company’s stock valued at $1,054,000 after buying an additional 2,568 shares in the last quarter. 21.89% of the stock is owned by institutional investors.

NI Trading Up 0.1%

NI stock traded up $0.02 during midday trading on Wednesday, hitting $13.48. The stock had a trading volume of 1,183 shares, compared to its average volume of 8,889. NI has a 52-week low of $12.01 and a 52-week high of $14.90. The company has a market capitalization of $277.67 million, a PE ratio of 104.02 and a beta of 0.39. The firm’s fifty day moving average is $13.52 and its two-hundred day moving average is $13.37.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of NI from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

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