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

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NTIC. Weiss Ratings restated a “sell (d)” rating on shares of Northern Technologies International in a research note on Wednesday, June 24th. Zacks Research upgraded Northern Technologies International from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Northern Technologies International presently has an average rating of “Reduce”.

Insider Buying and Selling

In other news, Director Richard Nigon sold 12,000 shares of Northern Technologies International stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $8.00, for a total transaction of $96,000.00. Following the completion of the sale, the director directly owned 47,148 shares in the company, valued at $377,184. The trade was a 20.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO G Lynch sold 16,070 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $8.00, for a total transaction of $128,560.00. Following the completion of the sale, the chief executive officer directly owned 105,284 shares of the company’s stock, valued at $842,272. This trade represents a 13.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 28,072 shares of company stock worth $224,576. Corporate insiders own 24.90% of the company’s stock.

Institutional Investors Weigh In On Northern Technologies International

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

Northern Technologies International Stock Down 4.6%

NTIC stock opened at $7.55 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.72 and a quick ratio of 1.15. Northern Technologies International has a 52-week low of $7.35 and a 52-week high of $10.03. The company has a 50-day moving average of $8.05 and a two-hundred day moving average of $8.16. The stock has a market capitalization of $71.72 million, a price-to-earnings ratio of -62.92 and a beta of 0.18.

Northern Technologies International (NASDAQ:NTIC) last announced its quarterly earnings data on Thursday, July 9th. The specialty chemicals company reported ($0.02) earnings per share 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 EPS for the current year.

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.