NI Holdings, Inc. (NASDAQ:NODK) Short Interest Up 21.4% in August

NI Holdings, Inc. (NASDAQ:NODK) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 25,000 shares, an increase of 21.4% from the August 15th total of 20,600 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 18,800 shares, the days-to-cover ratio is currently 1.3 days.

NI Stock Performance

Shares of NODK traded up $0.04 during trading hours on Tuesday, hitting $15.19. 11,092 shares of the company were exchanged, compared to its average volume of 14,874. NI has a 52 week low of $12.01 and a 52 week high of $16.55. The company has a market cap of $313.35 million, a PE ratio of 60.76 and a beta of 0.36. The firm’s 50 day moving average is $15.21 and its 200-day moving average is $15.12.

NI (NASDAQ:NODK) last released its earnings results on Thursday, August 8th. The company reported ($0.36) EPS for the quarter. NI had a negative net margin of 0.81% and a positive return on equity of 2.38%. The company had revenue of $87.81 million for the quarter.

Institutional Trading of NI

A number of hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets grew its position in NI by 65.2% in the first quarter. BNP Paribas Financial Markets now owns 4,085 shares of the company’s stock valued at $62,000 after acquiring an additional 1,612 shares during the period. Bank of New York Mellon Corp raised its position in NI by 5.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 23,787 shares of the company’s stock valued at $364,000 after purchasing an additional 1,246 shares during the last quarter. Renaissance Technologies LLC boosted its stake in NI by 2.2% in the second quarter. Renaissance Technologies LLC now owns 59,991 shares of the company’s stock worth $918,000 after purchasing an additional 1,300 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of NI by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 234,774 shares of the company’s stock worth $3,592,000 after purchasing an additional 9,414 shares during the last quarter. Finally, Orchard Capital Management LLC raised its holdings in shares of NI by 0.9% in the fourth quarter. Orchard Capital Management LLC now owns 337,437 shares of the company’s stock valued at $4,383,000 after buying an additional 3,087 shares during the last quarter. 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.