1347 Property Insurance (NASDAQ:PIH) Share Price Passes Below 50-Day Moving Average of $5.59

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1347 Property Insurance Holdings Inc (NASDAQ:PIH) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $5.59 and traded as low as $5.57. 1347 Property Insurance shares last traded at $5.60, with a volume of 706 shares traded.

Separately, ValuEngine upgraded shares of 1347 Property Insurance from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th.

The company has a market capitalization of $33.50 million, a price-to-earnings ratio of -3.94 and a beta of 0.48. The firm’s fifty day simple moving average is $5.59 and its two-hundred day simple moving average is $5.02.

A hedge fund recently raised its stake in 1347 Property Insurance stock. Vanguard Group Inc. raised its position in 1347 Property Insurance Holdings Inc (NASDAQ:PIH) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,637 shares of the insurance provider’s stock after purchasing an additional 2,600 shares during the quarter. Vanguard Group Inc. owned about 0.79% of 1347 Property Insurance worth $236,000 as of its most recent SEC filing. 38.45% of the stock is owned by institutional investors.

About 1347 Property Insurance (NASDAQ:PIH)

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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