Richard Nigon Sells 12,000 Shares of Northern Technologies International (NASDAQ:NTIC) Stock

Northern Technologies International Corporation (NASDAQ:NTIC) Director Richard Nigon sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $8.00, for a total transaction of $96,000.00. Following the sale, the director owned 47,148 shares of the company’s stock, valued at $377,184. This represents a 20.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Northern Technologies International Trading Down 1.0%

NTIC opened at $7.97 on Thursday. Northern Technologies International Corporation has a one year low of $7.14 and a one year high of $10.03. The stock has a market capitalization of $75.72 million, a PE ratio of -66.42 and a beta of 0.17. The business’s 50 day moving average price is $8.18 and its 200 day moving average price is $8.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.15 and a current ratio of 1.72.

Northern Technologies International (NASDAQ:NTIC) last posted its 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). Northern Technologies International had a negative return on equity of 0.45% and a negative net margin of 1.26%.The business had revenue of $24.22 million for the quarter, compared to analyst estimates of $23.40 million. As a group, equities research analysts expect that Northern Technologies International Corporation will post 0.1 EPS for the current year.

Institutional Trading of Northern Technologies International

Institutional investors have recently added to or reduced their stakes in the stock. Needham Investment Management LLC lifted its stake in Northern Technologies International by 11.4% during the fourth 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 in the last quarter. Rothschild Wealth LLC acquired a new stake in shares of Northern Technologies International in the fourth quarter valued at $1,330,000. North Star Investment Management Corp. acquired a new stake in shares of Northern Technologies International in the first quarter valued at $1,220,000. Peapod Lane Capital LLC raised its holdings in shares of Northern Technologies International by 64.6% in the 4th quarter. Peapod Lane Capital LLC now owns 142,621 shares of the specialty chemicals company’s stock valued at $1,117,000 after buying an additional 55,987 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Northern Technologies International by 15.0% in the 4th quarter. Renaissance Technologies LLC now owns 126,377 shares of the specialty chemicals company’s stock valued at $990,000 after buying an additional 16,500 shares during the period. Institutional investors and hedge funds own 32.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NTIC. Zacks Research downgraded Northern Technologies International from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Northern Technologies International in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Northern Technologies International presently has an average rating of “Sell”.

About Northern Technologies International

Northern Technologies International Corporation (NASDAQ: NTIC) is a Minnesota‐based specialty chemical company that develops, manufactures and markets environmentally responsible corrosion prevention and metal surface treatment products. The company’s solutions include volatile corrosion inhibitor (VCI) films, emitters, powders and liquids designed to protect ferrous and non‐ferrous metals in industrial, aerospace, defense, electronics and automotive applications. In addition, NTIC offers packaging materials, engineered coatings and specialty pretreatment chemicals that meet stringent environmental regulations while extending equipment life and reducing maintenance costs.

NTIC serves a diversified global customer base, including metal fabricators, automotive suppliers, electronics manufacturers and oil and gas producers.