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

NI Holdings, Inc. (NASDAQ:NODK) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.65 and traded as low as $15.36. NI shares last traded at $15.37, with a volume of 15,599 shares.

Analysts Set New Price Targets

NODK has been the subject of a number of recent research reports. Wall Street Zen raised NI from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NI in a research report on Thursday, June 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

NI Stock Performance

The company has a 50-day simple moving average of $15.65 and a 200-day simple moving average of $14.13. The company has a market cap of $313.70 million, a price-to-earnings ratio of 40.45 and a beta of 0.35.

NI (NASDAQ:NODK) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.01 earnings per share for the quarter. NI had a return on equity of 3.20% and a net margin of 2.93%.The firm had revenue of $70.23 million for the quarter.

Institutional Trading of NI

Hedge funds and other institutional investors have recently made changes to their positions in the stock. M3F Inc. increased its stake in NI by 7.9% in the 1st 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. AQR Capital Management LLC grew its holdings in NI by 7.2% in the fourth quarter. AQR Capital Management LLC now owns 16,708 shares of the company’s stock valued at $222,000 after purchasing an additional 1,128 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of NI by 79.1% in the fourth quarter. Russell Investments Group Ltd. now owns 7,312 shares of the company’s stock valued at $97,000 after buying an additional 3,229 shares in the last quarter. Barclays PLC increased its position in shares of NI by 11.9% in the fourth quarter. Barclays PLC now owns 12,749 shares of the company’s stock valued at $170,000 after buying an additional 1,359 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of NI by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,677 shares of the company’s stock worth $102,000 after buying an additional 2,426 shares during the last quarter. 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