Northern Technologies International Corporation (NASDAQ:NTIC) Short Interest Update

Northern Technologies International Corporation (NASDAQ:NTIC) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 9,371 shares, a decrease of 36.5% from the August 15th total of 14,752 shares. Based on an average daily volume of 5,942 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.1% of the shares of the company are short sold.

Northern Technologies International Price Performance

NTIC traded up $0.19 during trading on Thursday, reaching $7.91. 1,165 shares of the stock were exchanged, compared to its average volume of 10,754. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.72 and a quick ratio of 1.15. The company has a market capitalization of $75.14 million, a price-to-earnings ratio of -65.92 and a beta of 0.18. Northern Technologies International has a 1 year low of $7.35 and a 1 year high of $10.03. The business’s 50 day moving average price is $8.07 and its two-hundred day moving average price is $8.17.

Northern Technologies International (NASDAQ:NTIC) last released its quarterly earnings results on Thursday, July 9th. The specialty chemicals company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.06). The firm had revenue of $24.22 million for the quarter, compared to analyst estimates of $23.40 million. Northern Technologies International had a negative return on equity of 0.45% and a negative net margin of 1.26%. As a group, equities research analysts anticipate that Northern Technologies International will post 0.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NTIC shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Northern Technologies International in a report on Wednesday, June 24th. Zacks Research upgraded shares of Northern Technologies International from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Northern Technologies International presently has a consensus rating of “Reduce”.

Insider Buying and Selling at Northern Technologies International

In other news, CEO G Patrick Lynch sold 16,070 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $8.00, for a total value of $128,560.00. Following the completion of the sale, the chief executive officer owned 105,284 shares in the company, valued at approximately $842,272. This trade represents a 13.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Nigon sold 12,000 shares of the business’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $8.00, for a total transaction of $96,000.00. Following the transaction, the director owned 47,148 shares in the company, valued at approximately $377,184. This trade represents a 20.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 28,072 shares of company stock valued at $224,576. Corporate insiders own 24.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NTIC. Needham Investment Management LLC raised its holdings in shares of Northern Technologies International by 11.4% in the 4th quarter. Needham Investment Management LLC now owns 713,257 shares of the specialty chemicals company’s stock worth $5,585,000 after purchasing an additional 73,257 shares during the period. North Star Investment Management Corp. purchased a new stake in shares of Northern Technologies International during the 1st quarter worth about $1,220,000. BlackRock Inc. acquired a new stake in Northern Technologies International during the 2nd quarter worth approximately $413,000. Marquette Asset Management LLC purchased a new position in Northern Technologies International in the second quarter valued at approximately $204,000. Finally, Dynamic Advisor Solutions LLC lifted its position in Northern Technologies International by 4.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 91,695 shares of the specialty chemicals company’s stock valued at $785,000 after buying an additional 3,618 shares in the last quarter. Institutional investors and hedge funds own 32.88% of the company’s stock.

About Northern Technologies International

Northern Technologies International Corporation (NASDAQ: NTIC) develops and markets products and services designed to protect materials from corrosion and support more sustainable packaging and plastics applications. The company’s corrosion-management business operates primarily under the Zerust brand and serves industrial customers that need to protect metal components and equipment during storage, transportation and manufacturing.

Zerust products include corrosion-inhibiting packaging, films, foams, emitters, coatings, oils and other solutions that help prevent corrosion without requiring traditional protective treatments.