Kingstone Companies, Inc. (NASDAQ:KINS) Sees Large Growth in Short Interest

Kingstone Companies, Inc. (NASDAQ:KINS) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 106,400 shares, a growth of 35.2% from the September 15th total of 78,700 shares. Based on an average trading volume of 164,500 shares, the days-to-cover ratio is currently 0.6 days. Currently, 1.3% of the shares of the company are short sold.

Kingstone Companies Stock Performance

NASDAQ KINS traded up $0.16 during trading hours on Tuesday, hitting $9.82. 99,022 shares of the company’s stock traded hands, compared to its average volume of 71,726. The business’s fifty day moving average price is $9.06 and its two-hundred day moving average price is $6.34. The firm has a market capitalization of $108.10 million, a P/E ratio of 23.07 and a beta of 0.57. Kingstone Companies has a 52 week low of $1.60 and a 52 week high of $12.41. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62.

Kingstone Companies (NASDAQ:KINS) last posted its quarterly earnings data on Monday, August 12th. The insurance provider reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. Kingstone Companies had a return on equity of 13.61% and a net margin of 3.74%. The firm had revenue of $36.50 million during the quarter, compared to analyst estimates of $36.80 million. During the same period in the prior year, the business posted ($0.06) EPS. Equities research analysts predict that Kingstone Companies will post 1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KINS. StockNews.com upgraded shares of Kingstone Companies from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Janney Montgomery Scott started coverage on Kingstone Companies in a report on Tuesday, July 16th. They issued a “buy” rating and a $6.50 price objective for the company.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Kingstone Companies stock. Renaissance Technologies LLC boosted its position in shares of Kingstone Companies, Inc. (NASDAQ:KINS) by 5.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 369,389 shares of the insurance provider’s stock after acquiring an additional 19,201 shares during the period. Renaissance Technologies LLC owned 3.36% of Kingstone Companies worth $1,847,000 at the end of the most recent quarter. 14.91% of the stock is currently owned by hedge funds and other institutional investors.

About Kingstone Companies

Kingstone Companies, Inc, through its subsidiary, provides property and casualty insurance products to individuals in the United States. It offers personal line of insurance products, such as homeowners and dwelling fire, cooperative/condominiums, renters, and personal umbrella policies. The company also provides for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies.