NI (NASDAQ:NODK) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

NI Holdings, Inc. (NASDAQ:NODK) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $15.65 and traded as low as $15.36. NI shares last traded at $15.37, with a volume of 15,599 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NODK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NI in a report on Thursday, June 4th. Wall Street Zen raised NI from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, NI has a consensus rating of “Sell”.

NI Stock Performance

The business has a 50-day simple moving average of $15.67 and a two-hundred day simple moving average of $14.14. The company has a market capitalization of $312.20 million, a price-to-earnings ratio of 40.26 and a beta of 0.35.

NI (NASDAQ:NODK) last announced its earnings results on Friday, August 7th. The company reported $0.01 earnings per share for the quarter. NI had a return on equity of 3.20% and a net margin of 2.93%.The company had revenue of $70.23 million for the quarter.

Hedge Funds Weigh In On NI

Institutional investors have recently bought and sold shares of the company. M3F Inc. lifted its stake in shares of NI by 7.9% in the 1st quarter. M3F Inc. now owns 1,652,020 shares of the company’s stock worth $21,295,000 after acquiring an additional 120,938 shares during the period. Dimensional Fund Advisors LP lifted its position in NI by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 341,116 shares of the company’s stock valued at $4,397,000 after purchasing an additional 15,820 shares during the period. Geode Capital Management LLC boosted its holdings in NI by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 173,765 shares of the company’s stock valued at $2,311,000 after purchasing an additional 2,292 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in NI by 1.2% in the 1st quarter. Renaissance Technologies LLC now owns 89,191 shares of the company’s stock valued at $1,150,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in NI by 3.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 79,234 shares of the company’s stock valued at $1,054,000 after purchasing an additional 2,568 shares in the last quarter. 21.89% of the stock is owned by institutional investors and hedge funds.

NI Company Profile

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. NI Holdings, Inc operates as a subsidiary of Nodak Mutual Group, Inc