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

NI Holdings, Inc. (NASDAQ:NODK)’s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.47 and traded as low as $15.20. NI shares last traded at $15.54, with a volume of 26,418 shares.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NODK. Wall Street Zen raised shares of NI from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of NI in a research note on Thursday, June 4th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, NI presently has an average rating of “Sell”.

NI Price Performance

The company has a market capitalization of $318.26 million, a PE ratio of -77.70 and a beta of 0.35. The firm’s fifty day simple moving average is $15.47 and its 200 day simple moving average is $14.02.

NI (NASDAQ:NODK) last released its quarterly earnings data on Friday, May 8th. The company reported $0.60 earnings per share for the quarter. The business had revenue of $59.60 million during the quarter. NI had a negative return on equity of 1.79% and a negative net margin of 1.60%.

Institutional Trading of NI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC increased its holdings in NI by 3.8% in the first quarter. Empowered Funds LLC now owns 21,850 shares of the company’s stock valued at $312,000 after buying an additional 796 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of NI by 1.2% in the first quarter. Renaissance Technologies LLC now owns 89,191 shares of the company’s stock worth $1,150,000 after acquiring an additional 1,100 shares during the period. AQR Capital Management LLC raised its position in shares of NI by 7.2% in the fourth quarter. AQR Capital Management LLC now owns 16,708 shares of the company’s stock worth $222,000 after acquiring an additional 1,128 shares during the period. Barclays PLC boosted its stake in shares of NI by 11.9% during 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, Bridgeway Capital Management LLC boosted its stake in shares of NI by 2.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 73,753 shares of the company’s stock worth $940,000 after acquiring an additional 1,903 shares in the last quarter. 21.89% of the stock is owned by institutional investors and hedge funds.

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