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

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

NI Stock Performance

Shares of NODK traded up $0.05 during trading hours on Friday, reaching $14.25. 16,609 shares of the company traded hands, compared to its average volume of 18,310. The stock’s fifty day moving average is $14.46 and its 200 day moving average is $15.24. NI has a 1-year low of $13.47 and a 1-year high of $17.24. The stock has a market cap of $294.72 million, a P/E ratio of -50.89 and a beta of 0.33.

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

Institutional Investors Weigh In On NI

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in shares of NI by 26.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,882 shares of the company’s stock valued at $61,000 after acquiring an additional 815 shares in the last quarter. Wells Fargo & Company MN lifted its stake in NI by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 4,579 shares of the company’s stock worth $72,000 after purchasing an additional 997 shares during the period. JPMorgan Chase & Co. boosted its holdings in NI by 108.9% during 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 in the last quarter. Citadel Advisors LLC grew its stake in shares of NI by 61.4% in the 4th quarter. Citadel Advisors LLC now owns 18,328 shares of the company’s stock valued at $288,000 after purchasing an additional 6,972 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of NI by 17.0% in the 4th quarter. Bank of America Corp DE now owns 19,320 shares of the company’s stock worth $303,000 after buying an additional 2,811 shares in the last quarter. 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.