Short Interest in NI Holdings, Inc. (NASDAQ:NODK) Decreases By 16.1%

NI Holdings, Inc. (NASDAQ:NODK) saw a large 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. Based on an average daily volume of 15,100 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.3% of the shares of the company are sold short.

Institutional Trading of NI

An institutional investor recently raised its position in NI stock. Orchard Capital Management LLC increased its position in shares of NI Holdings, Inc. (NASDAQ:NODK) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 337,437 shares of the company’s stock after purchasing an additional 3,087 shares during the quarter. Orchard Capital Management LLC owned 1.64% of NI worth $4,383,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 21.89% of the company’s stock.

NI Price Performance

Shares of NODK stock traded down $0.10 during midday trading on Tuesday, hitting $14.87. The company had a trading volume of 7,808 shares, compared to its average volume of 14,804. The company’s 50 day simple moving average is $14.68 and its 200 day simple moving average is $13.56. NI has a 52-week low of $12.01 and a 52-week high of $16.55. The stock has a market cap of $306.77 million, a price-to-earnings ratio of -59.88 and a beta of 0.32.

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

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.