NI (NASDAQ:NODK) Stock Price Passes Below 50-Day Moving Average - Should You Sell?

Key Points

• NI shares fell below their 50-day moving average, trading as low as $14.85 before closing at $15.00, compared with a 50-day average of $15.60.
• Analyst sentiment remains negative: one analyst rates the stock “Sell,” Weiss Ratings reiterated a “sell (d-)” rating, and the overall MarketBeat consensus is “Sell.”
• NI reported quarterly revenue of $70.23 million and earnings of $0.01 per share, while institutional investors own 21.89% of the company and several funds recently increased their positions.

NI Holdings, Inc. (NASDAQ:NODK - Get Free Report)'s stock price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.60 and traded as low as $14.85. NI shares last traded at $15.00, with a volume of 30,019 shares.

Wall Street Analysts Forecast Growth

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

NI Stock Down 1.4%

The stock has a market capitalization of $306.15 million, a PE ratio of 39.47 and a beta of 0.35. The stock's 50 day moving average price is $15.60 and its 200-day moving average price is $14.29.

NI (NASDAQ:NODK - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.01 earnings per share for the quarter. NI had a net margin of 2.93% and a return on equity of 3.18%. The firm had revenue of $70.23 million during the quarter.

Hedge Funds Weigh In On NI

Hedge funds and other institutional investors have recently modified their holdings of the business. M3F Inc. lifted its holdings in 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 buying an additional 120,938 shares during the period. Empowered Funds LLC increased its holdings in shares of NI by 9.6% in the 4th quarter. Empowered Funds LLC now owns 29,234 shares of the company's stock valued at $389,000 after acquiring an additional 2,568 shares during the period. AQR Capital Management LLC increased its holdings in shares of NI by 7.2% in the 4th quarter. AQR Capital Management LLC now owns 16,708 shares of the company's stock valued at $222,000 after acquiring an additional 1,128 shares during the period. Barclays PLC raised its position in shares of NI by 11.9% in the 4th quarter. Barclays PLC now owns 12,749 shares of the company's stock worth $170,000 after acquiring an additional 1,359 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of NI by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 7,677 shares of the company's stock worth $102,000 after acquiring an additional 2,426 shares in the last quarter. 21.89% of the stock is currently owned by institutional investors.

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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