Conifer Holdings, Inc. (CNFR): Puzzling Price Reaction

The stock of Conifer Holdings, Inc. (NASDAQ:CNFR) has been Initiated to Neutral by Boenning & Scattergood in its latest research note that was published on August 16. Sandler O’Neill analysts have downgraded their rating of CNFR stock from Buy to Hold in a separate flash note to investors on April 29

Conifer’s stock is covered by 3 analysts, with none of them rating the stock as Buy. It has been deemed to have strong buy by none of the analysts, 3 of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only none analysts. none of them rated it as strong buy with 3 of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that CNFR has an average analyst rating of 3.00.

Conifer Holdings, Inc., which has current market capitalization of above $32 Million, published its last quarter earnings on June 30, 2019. The company was able to amass $20.32 million in revenue. This figure is $0.74 million more than what analysts had expected which was $21.06 million. During the first quarter of the year, Conifer also recorded $-0.5 earnings per share (EPS) which is $0.5 above the $0 estimated by Thomson Reuter’s analyst, leading to a surprise factor of 0%.

CNFR surged by $0.48 during the normal trading session on Tuesday and reaching a high of $4.00 during the day while it closed the day at $3.75. The Conifer stock had a low trading volume of 0.18 million shares on that day, which is low compared to the average daily volume of 6.28M shares. CNFR has also lost 0.79% of its value over the past 7 days. However, the stock has declined by 17.99% in the 3 months of the year. Over the past six months meanwhile, it has gained 7.14% while it has added 7.14% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -13.59% from its 3 months high price. However, taking another look at CNFR will indicate that it is trading +20.19% away from its 90-day low. Looking at the bigger picture, the Conifer Holdings, Inc. stock has dropped by -46.43% from its 52-week high while it has surged by +22.55% from its 52-week low price.

On June 28, 2019 Hakala Jeffrey Anthony, Director bought 545397 shares of the company. The average price for that transaction was $4.23 per share, which meant that Hakala Jeffrey Anthony spent $2307029 purchasing the stocks. The purchase was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Director, WILLIAMS R JAMISON JR purchasing 58823 shares of this stock on June 28, 2019. The average purchasing price for the stock was $4.25 per share, with the purchased stock accruing $249997.8. Following this transaction, the Director WILLIAMS R JAMISON JR now holds 768161 shares of the company, which is worth around $2703927.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 66.31%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 71.26%. Over the past 20 days, Conifer’s Stochastic %K stood at 59.77% while its Stochastic %D was revealed to be 66.16%.