1347 Property Insurance Holdings Inc (NASDAQ:PIH) Sees Large Growth in Short Interest

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1347 Property Insurance Holdings Inc (NASDAQ:PIH) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totalling 2,600 shares, an increase of 44.4% from the June 30th total of 1,800 shares. Based on an average daily volume of 8,400 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the shares of the stock are short sold.

A number of research analysts have recently weighed in on the company. TheStreet lowered 1347 Property Insurance from a “c-” rating to a “d+” rating in a research report on Friday, July 12th. ValuEngine upgraded 1347 Property Insurance from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd.

PIH opened at $5.18 on Wednesday. 1347 Property Insurance has a 12 month low of $3.75 and a 12 month high of $7.45. The stock has a 50-day moving average of $5.11.

1347 Property Insurance (NASDAQ:PIH) last released its quarterly earnings results on Tuesday, May 14th. The insurance provider reported ($0.04) EPS for the quarter. The company had revenue of $17.39 million during the quarter. 1347 Property Insurance had a negative return on equity of 0.11% and a negative net margin of 1.69%.

A hedge fund recently raised its stake in 1347 Property Insurance stock. Deutsche Bank AG raised its stake in shares of 1347 Property Insurance Holdings Inc (NASDAQ:PIH) by 18.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,538 shares of the insurance provider’s stock after purchasing an additional 3,542 shares during the period. Deutsche Bank AG owned 0.38% of 1347 Property Insurance worth $90,000 at the end of the most recent reporting period. 38.98% of the stock is owned by hedge funds and other institutional investors.

READ :  1347 Property Insurance (NASDAQ:PIH) Downgraded by TheStreet to “D+”

About 1347 Property Insurance

1347 Property Insurance Holdings, Inc, an insurance holding company, provides property and casualty insurance products to individuals in Louisiana, Florida, and Texas. The company offers homeowners’ insurance, manufactured home insurance, dwelling fire insurance, and wind/hail insurance products, as well as reinsurance products.

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