NI Holdings, Inc. (NASDAQ:NODK) Short Interest Up 44.0% in March

NI Holdings, Inc. (NASDAQ:NODK) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 31,400 shares, a growth of 44.0% from the February 28th total of 21,800 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 15,500 shares, the short-interest ratio is currently 2.0 days.

NI Price Performance

Shares of NASDAQ:NODK traded up $0.05 during midday trading on Friday, reaching $14.25. The company’s stock had a trading volume of 16,609 shares, compared to its average volume of 18,310. The business’s fifty day simple moving average is $14.46 and its 200-day simple moving average is $15.24. The company has a market capitalization of $294.72 million, a P/E ratio of -50.89 and a beta of 0.33. NI has a fifty-two week low of $13.47 and a fifty-two week high of $17.24.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. M3F Inc. boosted its position in NI by 21.8% in the 4th quarter. M3F Inc. now owns 1,336,330 shares of the company’s stock valued at $20,980,000 after buying an additional 239,316 shares during the last quarter. Bridgeway Capital Management LLC acquired a new stake in NI in the fourth quarter worth about $1,116,000. Boothbay Fund Management LLC acquired a new position in NI during the 4th quarter valued at about $487,000. Arbiter Partners Capital Management LLC boosted its stake in shares of NI by 152.0% in the 4th quarter. Arbiter Partners Capital Management LLC now owns 51,392 shares of the company’s stock valued at $807,000 after purchasing an additional 31,000 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of NI in the 4th quarter valued at about $331,000. Institutional investors 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.