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

NI Holdings, Inc. (NASDAQ:NODK) saw a large 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. Based on an average trading volume of 11,040 shares, the short-interest ratio is presently 2.8 days. Approximately 0.2% of the company’s stock are sold short. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 11,040 shares, the short-interest ratio is presently 2.8 days.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. M3F Inc. raised its holdings in shares of NI by 3.8% during the 2nd quarter. M3F Inc. now owns 1,463,721 shares of the company’s stock valued at $18,648,000 after buying an additional 53,877 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of NI by 5.2% during the fourth 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 during the period. Geode Capital Management LLC grew its position in shares of 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 buying an additional 2,292 shares during the last quarter. Orchard Capital Management LLC raised its holdings in NI by 3.6% in the 3rd quarter. Orchard Capital Management LLC now owns 118,817 shares of the company’s stock worth $1,611,000 after purchasing an additional 4,085 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of NI by 3.9% in the 3rd quarter. Bridgeway Capital Management LLC now owns 76,666 shares of the company’s stock worth $1,040,000 after acquiring an additional 2,913 shares in the last quarter. 21.89% of the stock is currently owned by hedge funds and other institutional investors.

NI Price Performance

Shares of NASDAQ NODK traded up $0.15 during trading on Tuesday, reaching $13.46. 13,350 shares of the stock traded hands, compared to its average volume of 9,140. The stock has a market capitalization of $277.41 million, a P/E ratio of 103.54 and a beta of 0.39. NI has a 52-week low of $12.01 and a 52-week high of $15.27. The company has a 50-day moving average of $13.53 and a 200-day moving average of $13.36.

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