NI Holdings, Inc. (NASDAQ:NODK) Short Interest Down 16.1% in April

NI Holdings, Inc. (NASDAQ:NODK) was the target of a significant drop in short interest during the month of 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 sold short. Based on an average daily volume of 15,100 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NI stock. Orchard Capital Management LLC grew its holdings in NI Holdings, Inc. (NASDAQ:NODK) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 337,437 shares of the company’s stock after acquiring an additional 3,087 shares during the quarter. Orchard Capital Management LLC owned 1.64% of NI worth $4,383,000 at the end of the most recent reporting period. 21.89% of the stock is currently owned by institutional investors.

NI Price Performance

Shares of NI stock traded up $0.25 during trading hours on Monday, reaching $15.22. The company’s stock had a trading volume of 1,146 shares, compared to its average volume of 14,787. NI has a one year low of $12.01 and a one year high of $16.55. The firm has a 50 day moving average price of $14.65 and a 200-day moving average price of $13.54. The stock has a market cap of $313.97 million, a P/E ratio of -59.88 and a beta of 0.32.

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

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.