NI (NASDAQ:NODK) Share Price Passes Below Fifty Day Moving Average – Should You Sell?

NI Holdings, Inc. (NASDAQ:NODK) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $15.67 and traded as low as $15.01. NI shares last traded at $15.28, with a volume of 11,100 shares changing hands.

Analyst Ratings Changes

NODK has been the topic of several research reports. Wall Street Zen upgraded shares of 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 analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

NI Trading Up 1.5%

The stock has a market capitalization of $311.86 million, a P/E ratio of 40.21 and a beta of 0.35. The company’s 50-day moving average is $15.67 and its two-hundred day moving average is $14.20.

NI (NASDAQ:NODK) last posted 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 3.18%. The firm had revenue of $70.23 million during the quarter.

Institutional Trading of NI

Several hedge funds have recently added to or reduced their stakes in NODK. Bank of New York Mellon Corp acquired a new position in NI during the 2nd quarter worth $270,000. Empowered Funds LLC increased its holdings in shares of NI by 6.0% during the first quarter. Empowered Funds LLC now owns 30,974 shares of the company’s stock valued at $399,000 after purchasing an additional 1,740 shares during the period. Renaissance Technologies LLC increased its holdings in shares of NI by 1.2% during the first 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 during the period. Dimensional Fund Advisors LP raised its stake in shares of NI by 4.9% during 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 in the last quarter. Finally, M3F Inc. raised its stake in shares of NI by 7.9% during the first quarter. M3F Inc. now owns 1,652,020 shares of the company’s stock valued at $21,295,000 after purchasing an additional 120,938 shares in the last quarter. 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