Conifer Holdings Inc (NASDAQ:CNFR)’s stock price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.58 and traded as low as $2.38. Conifer shares last traded at $2.38, with a volume of 703 shares changing hands.

CNFR has been the topic of several research analyst reports. Zacks Investment Research raised Conifer from a “sell” rating to a “hold” rating and set a $2.75 target price on the stock in a research note on Tuesday, July 21st. Piper Sandler lifted their target price on Conifer from $3.25 to $3.50 and gave the company a “neutral” rating in a research note on Monday, April 6th.

The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market cap of $22.84 million, a price-to-earnings ratio of -1.86 and a beta of 1.18. The business has a fifty day moving average price of $2.58 and a 200 day moving average price of $3.15.

Conifer (NASDAQ:CNFR) last posted its quarterly earnings results on Wednesday, May 13th. The insurance provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.18). Conifer had a negative return on equity of 31.59% and a negative net margin of 12.72%. The business had revenue of $21.59 million for the quarter, compared to analyst estimates of $23.41 million. As a group, equities analysts anticipate that Conifer Holdings Inc will post -0.33 EPS for the current year.

In other news, Director Joseph D. Sarafa bought 27,868 shares of the stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $3.00 per share, for a total transaction of $83,604.00. 51.00% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Conifer stock. Royal Bank of Canada boosted its holdings in Conifer Holdings Inc (NASDAQ:CNFR) by 25,128.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,572 shares of the insurance provider’s stock after acquiring an additional 35,431 shares during the period. Royal Bank of Canada owned 0.37% of Conifer worth $107,000 as of its most recent filing with the Securities and Exchange Commission. 5.50% of the stock is currently owned by institutional investors.

About Conifer (NASDAQ:CNFR)

Conifer Holdings, Inc, an insurance holding company, offers insurance coverage in specialty commercial and personal product lines. The company underwrites various specialty insurance products, including property, general liability, commercial multi-peril, liquor liability, and automobile 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, such as companies that provide security guard services, security alarm products and services, and private investigative services.

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