Conifer Holdings, Inc. (NASDAQ:CNFR) Sees Significant Drop in Short Interest

Conifer Holdings, Inc. (NASDAQ:CNFRGet Free Report) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 23,900 shares, a decline of 13.7% from the December 15th total of 27,700 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average trading volume of 6,400 shares, the days-to-cover ratio is currently 3.7 days.

Conifer Stock Down 5.3 %

Shares of NASDAQ:CNFR opened at $1.39 on Thursday. Conifer has a 52-week low of $0.65 and a 52-week high of $2.08. The stock has a market cap of $16.99 million, a P/E ratio of -3.86 and a beta of 0.76. The business’s 50 day moving average is $1.14 and its 200 day moving average is $1.27. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.14.

Conifer (NASDAQ:CNFRGet Free Report) last posted its earnings results on Thursday, November 9th. The insurance provider reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.43). The company had revenue of $28.12 million for the quarter, compared to analysts’ expectations of $25.27 million. Conifer had a negative return on equity of 60.44% and a negative net margin of 4.08%. Sell-side analysts predict that Conifer will post -0.79 EPS for the current year.

Analysts Set New Price Targets

Separately, Piper Sandler cut their target price on Conifer from $1.07 to $0.61 and set an “underweight” rating on the stock in a research note on Monday, November 13th.

Get Our Latest Research Report on Conifer

Institutional Trading of Conifer

A hedge fund recently bought a new stake in Conifer stock. Integrated Investment Consultants LLC bought a new stake in Conifer Holdings, Inc. (NASDAQ:CNFRFree Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 405,457 shares of the insurance provider’s stock, valued at approximately $714,000. Integrated Investment Consultants LLC owned 3.32% of Conifer at the end of the most recent reporting period. Institutional investors and hedge funds own 42.85% of the company’s stock.

About Conifer

(Get Free Report)

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.

Further Reading

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