Short Interest in Conifer Holdings, Inc. (NASDAQ:CNFR) Expands By 13.0%

Conifer Holdings, Inc. (NASDAQ:CNFR) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 20,000 shares, a growth of 13.0% from the October 15th total of 17,700 shares. Based on an average daily trading volume, of 4,300 shares, the days-to-cover ratio is presently 4.7 days. Approximately 0.6% of the company’s shares are sold short.

Conifer Stock Down 10.0 %

Shares of CNFR opened at $0.68 on Friday. Conifer has a fifty-two week low of $0.65 and a fifty-two week high of $2.08. The company has a quick ratio of 0.60, a current ratio of 0.52 and a debt-to-equity ratio of 2.14. The firm’s 50 day moving average price is $1.16 and its 200 day moving average price is $1.41.

Institutional Trading of Conifer

A hedge fund recently bought a new stake in Conifer stock. Integrated Investment Consultants LLC acquired a new stake in Conifer Holdings, Inc. (NASDAQ:CNFR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 405,457 shares of the insurance provider’s stock, valued at approximately $714,000. Integrated Investment Consultants LLC owned approximately 3.32% of Conifer at the end of the most recent quarter. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their target price on Conifer from $1.07 to $0.61 and set an “underweight” rating for the company in a report on Monday.

About Conifer

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.