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

Shares of NI Holdings, Inc. (NASDAQ:NODK) crossed 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 trading hands.

Analyst Ratings Changes

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

NI Trading Up 2.2%

The business has a 50 day simple moving average of $15.58 and a two-hundred day simple moving average of $14.30. The company has a market cap of $313.01 million, a PE ratio of 40.37 and a beta of 0.35.

NI (NASDAQ:NODK) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.01 EPS for the quarter. The business had revenue of $70.23 million during the quarter. NI had a return on equity of 3.18% and a net margin of 2.93%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in NI by 158.7% in the third quarter. Russell Investments Group Ltd. now owns 4,083 shares of the company’s stock valued at $55,000 after purchasing an additional 2,505 shares during the period. Wells Fargo & Company MN raised its stake in NI by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,677 shares of the company’s stock worth $102,000 after purchasing an additional 2,426 shares during the period. AQR Capital Management LLC acquired a new position in shares of NI in the 1st quarter valued at $143,000. Barclays PLC boosted its holdings in shares of NI by 11.9% in the 4th quarter. Barclays PLC now owns 12,749 shares of the company’s stock valued at $170,000 after purchasing an additional 1,359 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of NI during the 2nd quarter valued at $270,000. Institutional investors and hedge funds own 21.89% of the company’s stock.

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