Short Interest in Presurance Holdings, Inc. (NASDAQ:PRHI) Increases By 92.5%

Presurance Holdings, Inc. (NASDAQ:PRHI) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 20,994 shares, an increase of 92.5% from the May 14th total of 10,905 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily volume of 31,313 shares, the days-to-cover ratio is presently 0.7 days.

Insider Buying and Selling

In related news, CEO Brian J. Roney purchased 14,285 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were acquired at an average price of $5.04 per share, for a total transaction of $71,996.40. Following the purchase, the chief executive officer directly owned 72,890 shares in the company, valued at $367,365.60. This trade represents a 24.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 17,823 shares of company stock valued at $90,389. 73.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on PRHI shares. UBS Group set a $7.00 price target on shares of Presurance in a research note on Thursday, May 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Presurance in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell” and a consensus price target of $7.00.

Presurance Price Performance

Shares of NASDAQ PRHI traded down $0.07 during mid-day trading on Tuesday, hitting $4.83. 16,445 shares of the company’s stock traded hands, compared to its average volume of 13,514. The company’s 50-day moving average is $4.93 and its two-hundred day moving average is $5.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $18.06 million, a P/E ratio of -0.50 and a beta of 1.10. Presurance has a 1 year low of $3.36 and a 1 year high of $19.81.

Presurance (NASDAQ:PRHI) last announced its earnings results on Friday, March 27th. The company reported ($8.68) earnings per share (EPS) for the quarter. The business had revenue of $4.62 million for the quarter. Presurance had a negative net margin of 41.92% and a negative return on equity of 104.13%.

About Presurance

Conifer Holdings, Inc, an insurance holding company, engages in the sale of property and casualty insurance products. It offers insurance coverage in specialty commercial and personal product lines. The company underwrites various specialty insurance products, including property, general liability, liquor liability, automobile, and homeowners and dwelling policies. It serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which includes restaurants, bars, taverns, and bowling centers, as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians, and other independent contractors; and security service providers, including companies that provide security guard services, security alarm products and services, and private investigative services.