Short Interest in NI Holdings, Inc. (NASDAQ:NODK) Decreases By 16.1%

NI Holdings, Inc. (NASDAQ:NODK) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 21,400 shares, a drop of 16.1% from the March 31st total of 25,500 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average trading volume of 15,100 shares, the days-to-cover ratio is presently 1.4 days.

NI Stock Down 0.7 %

Shares of NI stock traded down $0.10 on Tuesday, hitting $14.87. The stock had a trading volume of 7,808 shares, compared to its average volume of 14,804. NI has a one year low of $12.01 and a one year high of $16.55. The stock has a market cap of $306.77 million, a price-to-earnings ratio of -59.88 and a beta of 0.32. The stock’s 50-day simple moving average is $14.68 and its two-hundred day simple moving average is $13.56.

NI (NASDAQ:NODK) last issued its earnings results on Friday, March 15th. The company reported $0.32 earnings per share (EPS) for the quarter. NI had a negative net margin of 1.50% and a negative return on equity of 2.25%. The firm had revenue of $94.41 million for the quarter.

Institutional Trading of NI

A hedge fund recently raised its stake in NI stock. Newtyn Management LLC raised its position in shares of NI Holdings, Inc. (NASDAQ:NODK) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 470,000 shares of the company’s stock after buying an additional 10,000 shares during the quarter. NI comprises approximately 1.5% of Newtyn Management LLC’s portfolio, making the stock its 18th biggest position. Newtyn Management LLC owned 2.28% of NI worth $6,049,000 at the end of the most recent quarter. Institutional investors and hedge funds own 21.89% of the company’s stock.

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.