Kingstone Companies (NASDAQ:KINS) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Kingstone Companies, Inc. (NASDAQ:KINS) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.27 and traded as high as $10.21. Kingstone Companies shares last traded at $9.84, with a volume of 161,854 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com upgraded Kingstone Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Janney Montgomery Scott assumed coverage on shares of Kingstone Companies in a report on Tuesday, July 16th. They set a “buy” rating and a $6.50 price target on the stock.

Kingstone Companies Stock Up 4.2 %

The company has a market capitalization of $108.83 million, a P/E ratio of 23.43 and a beta of 0.57. The stock has a 50 day moving average price of $9.00 and a 200 day moving average price of $6.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.37 and a current ratio of 0.37.

Kingstone Companies (NASDAQ:KINS) last issued its quarterly earnings results on Monday, August 12th. The insurance provider reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. Kingstone Companies had a net margin of 3.74% and a return on equity of 13.61%. The company had revenue of $36.50 million during the quarter, compared to analyst estimates of $36.80 million. During the same quarter last year, the business posted ($0.06) EPS. Equities research analysts forecast that Kingstone Companies, Inc. will post 1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Kingstone Companies stock. Dimensional Fund Advisors LP grew its holdings in shares of Kingstone Companies, Inc. (NASDAQ:KINS) by 7.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,172 shares of the insurance provider’s stock after purchasing an additional 7,320 shares during the quarter. Dimensional Fund Advisors LP owned about 0.99% of Kingstone Companies worth $546,000 at the end of the most recent reporting period. Institutional investors own 14.91% of the company’s stock.

About Kingstone Companies

Kingstone Companies, Inc, through its subsidiary, provides property and casualty insurance products to individuals in the United States. It offers personal line of insurance products, such as homeowners and dwelling fire, cooperative/condominiums, renters, and personal umbrella policies. The company also provides for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies.