FedNat (NASDAQ:FNHC) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of FedNat (NASDAQ:FNHC – Get Rating) in a research note issued to investors on Tuesday. The brokerage issued a sell rating on the insurance provider’s stock.

FedNat Stock Performance

FedNat stock opened at $0.01 on Tuesday. The company has a debt-to-equity ratio of 8.41, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $192,709.00, a price-to-earnings ratio of 0.00 and a beta of 2.09. FedNat has a 1 year low of $0.00 and a 1 year high of $1.74. The firm’s 50 day moving average price is $0.23 and its two-hundred day moving average price is $0.31.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in FedNat stock. Renaissance Technologies LLC boosted its holdings in FedNat Holding (NASDAQ:FNHC – Get Rating) by 17.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 691,670 shares of the insurance provider’s stock after buying an additional 103,209 shares during the quarter. Renaissance Technologies LLC owned 3.95% of FedNat worth $214,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 26.36% of the company’s stock.

About FedNat

(Get Rating)

FedNat Holding Company, together with its subsidiaries, engages in the insurance underwriting, distribution, and claims processing business in Florida, Louisiana, Texas, Georgia, South Carolina, Alabama, and Mississippi. The company is involved in the homeowners and casualty insurance; and personal automobile insurance businesses, as well as commercial general liability and federal flood businesses.