NI (NASDAQ:NODK) Stock Price Up 1.1% – Here’s Why

Shares of NI Holdings, Inc. (NASDAQ:NODK) shot up 1.1% during trading on Monday . The stock traded as high as $15.11 and last traded at $15.04. 6,639 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 21,031 shares. The stock had previously closed at $14.87.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen upgraded NI from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of NI in a research report on Thursday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

NI Price Performance

The stock has a market capitalization of $308.02 million, a price-to-earnings ratio of -75.20 and a beta of 0.37. The stock has a 50-day moving average of $13.40 and a 200 day moving average of $13.40.

NI (NASDAQ:NODK) last released its earnings results on Friday, May 8th. The company reported $0.60 earnings per share (EPS) for the quarter. The company had revenue of $59.60 million for the quarter. NI had a negative net margin of 1.60% and a negative return on equity of 1.79%.

Hedge Funds Weigh In On NI

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC lifted its stake in NI by 3.8% in the first quarter. Empowered Funds LLC now owns 21,850 shares of the company’s stock valued at $312,000 after buying an additional 796 shares during the period. Renaissance Technologies LLC grew its position in shares of NI by 1.2% during the 1st quarter. Renaissance Technologies LLC now owns 89,191 shares of the company’s stock worth $1,150,000 after buying an additional 1,100 shares during the period. AQR Capital Management LLC grew its position in shares of NI by 7.2% during the 4th quarter. AQR Capital Management LLC now owns 16,708 shares of the company’s stock worth $222,000 after buying an additional 1,128 shares during the period. Barclays PLC increased its stake in shares of NI by 11.9% in the 4th quarter. Barclays PLC now owns 12,749 shares of the company’s stock valued at $170,000 after acquiring an additional 1,359 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of NI by 2.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 73,753 shares of the company’s stock valued at $940,000 after acquiring an additional 1,903 shares during the last quarter. 21.89% of the stock is owned by institutional investors.

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