Negative Impact of Mixed Fundamentals on NI Holdings' Share Price Momentum

NI Holdings' (NASDAQ:NODK) stock has risen 12% over the past three months. However, its fundamentals, specifically its ROE of 0.6%, do not indicate a clear financial health. The company's net income has declined 22% over the past five years, which could be due to low earnings retention or poor capital allocation. The industry has seen a 13% earnings growth in the same period, which is concerning.