NI (NASDAQ:NODK) Shares Pass Below Fifty Day Moving Average - Here's Why

Key Points

• NI Holdings shares fell below their 50-day moving average, trading as low as $15.36 versus the $15.65 average, and closed around $15.37.
• Analyst sentiment remains negative: Weiss Ratings maintained a “sell” rating, while Wall Street Zen upgraded the stock to “hold”; MarketBeat reports a consensus “Sell” rating.
• The company reported quarterly revenue of $70.23 million and EPS of $0.01, with a 2.93% net margin and 3.20% return on equity. Institutional investors own 21.89% of NI, with several firms recently increasing their stakes.

NI Holdings, Inc. (NASDAQ:NODK - Get Free Report)'s stock price 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 traded.

Wall Street Analyst Weigh In

NODK has been the subject of several analyst reports. Wall Street Zen raised NI from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings restated a "sell (d-)" rating on shares of NI in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Sell".

NI Stock Down 0.5%

The company has a market cap of $313.70 million, a price-to-earnings ratio of 40.45 and a beta of 0.35. The business's fifty day simple moving average is $15.65 and its two-hundred day simple moving average is $14.13.

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

Institutional Investors Weigh In On NI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NODK. M3F Inc. grew its position in shares of NI by 7.9% during the first 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 last quarter. Dimensional Fund Advisors LP raised its position in NI by 4.9% in the 1st 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 last quarter. Geode Capital Management LLC raised its position 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 during the last quarter. Renaissance Technologies LLC boosted its stake in NI by 1.2% during the 1st quarter. Renaissance Technologies LLC now owns 89,191 shares of the company's stock worth $1,150,000 after purchasing an additional 1,100 shares during the period. Finally, Bridgeway Capital Management LLC boosted its stake in NI by 3.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 79,234 shares of the company's stock worth $1,054,000 after purchasing an additional 2,568 shares during the period. Hedge funds and other 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. NI Holdings, Inc operates as a subsidiary of Nodak Mutual Group, Inc

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