NI Holdings, Inc. (NASDAQ:NODK) Short Interest Down 14.4% in January

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

Hedge Funds Weigh In On NI

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in shares of NI by 150.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the company’s stock valued at $25,000 after purchasing an additional 1,200 shares during the period. Russell Investments Group Ltd. lifted its stake in NI by 158.7% in the third quarter. Russell Investments Group Ltd. now owns 4,083 shares of the company’s stock worth $55,000 after purchasing an additional 2,505 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of NI by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,677 shares of the company’s stock worth $102,000 after buying an additional 2,426 shares during the period. AQR Capital Management LLC bought a new stake in shares of NI in the 1st quarter valued at about $143,000. Finally, AE Wealth Management LLC bought a new stake in shares of NI in the 3rd quarter valued at about $151,000. 21.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut NI from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

NI Stock Down 0.4%

NODK stock opened at $13.41 on Thursday. NI has a 12-month low of $12.01 and a 12-month high of $14.90. The company’s fifty day simple moving average is $13.51 and its 200 day simple moving average is $13.37. The firm has a market cap of $276.38 million, a price-to-earnings ratio of 103.15 and a beta of 0.39.

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