Presurance Holdings, Inc. (NASDAQ:PRHI) Stock Short Interest Rises 111.1%

Presurance Holdings, Inc. (NASDAQ:PRHI) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 7,170 shares, an increase of 111.1% from the September 30th total of 3,397 shares. Based on an average daily volume of 26,609 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.7% of the shares of the company are short sold.

Presurance Stock Performance

PRHI stock traded down $0.21 during midday trading on Friday, hitting $7.04. 23,546 shares of the stock traded hands, compared to its average volume of 31,205. The firm has a market cap of $26.40 million, a P/E ratio of -0.69 and a beta of 0.87. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s fifty day simple moving average is $7.45 and its 200-day simple moving average is $5.59. Presurance has a 1-year low of $3.36 and a 1-year high of $10.78.

Presurance (NASDAQ:PRHI) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.35 earnings per share for the quarter. Presurance had a negative net margin of 49.56% and a negative return on equity of 89.12%. The business had revenue of $9.14 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Presurance from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Presurance presently has a consensus rating of “Sell” and an average price target of $7.00.

Insider Activity at Presurance

In related news, CEO Brian J. Roney acquired 7,500 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was acquired at an average price of $6.75 per share, with a total value of $50,625.00. Following the acquisition, the chief executive officer directly owned 80,390 shares in the company, valued at $542,632.50. This represents a 10.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Grant Smith bought 7,250 shares of the stock in a transaction dated Wednesday, September 30th. The stock was bought at an average price of $6.75 per share, for a total transaction of $48,937.50. Following the purchase, the director directly owned 15,953 shares of the company’s stock, valued at approximately $107,682.75. The trade was a 83.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 37,100 shares of company stock worth $248,908 in the last three months. Company insiders own 73.30% of the company’s stock.

Presurance Company Profile

Conifer Holdings, Inc, an insurance holding company, engages in the sale of property and casualty insurance products. It offers insurance coverage in specialty commercial and personal product lines. The company underwrites various specialty insurance products, including property, general liability, liquor liability, automobile, and homeowners and dwelling policies. It serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which includes restaurants, bars, taverns, and bowling centers, as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians, and other independent contractors; and security service providers, including companies that provide security guard services, security alarm products and services, and private investigative services.