Short Interest in Northern Technologies International Corporation (NASDAQ:NTIC) Decreases By 36.5%

Northern Technologies International Corporation (NASDAQ:NTIC) was the target of a significant decline in short interest in 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. Based on an average daily volume of 5,942 shares, the short-interest ratio is presently 1.6 days. Approximately 0.1% of the company’s stock are short sold.

Northern Technologies International Trading Up 2.5%

Shares of Northern Technologies International stock traded up $0.19 on Thursday, reaching $7.91. 1,165 shares of the company were exchanged, compared to its average volume of 10,754. Northern Technologies International has a fifty-two week low of $7.35 and a fifty-two week high of $10.03. The firm has a market capitalization of $75.14 million, a price-to-earnings ratio of -65.92 and a beta of 0.18. The company has a current ratio of 1.72, a quick ratio of 1.15 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $8.07 and a 200-day moving average price of $8.17.

Northern Technologies International (NASDAQ:NTIC) last posted its quarterly earnings data on Thursday, July 9th. The specialty chemicals company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). The firm had revenue of $24.22 million during 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%. On average, analysts expect that Northern Technologies International will post 0.1 EPS for the current year.

Insider Buying and Selling at Northern Technologies International

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

Institutional Trading of Northern Technologies International

Several large investors have recently modified their holdings of NTIC. Dynamic Advisor Solutions LLC increased its holdings in shares of 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 buying an additional 3,618 shares in the last quarter. Marquette Asset Management LLC bought a new stake in Northern Technologies International during the 2nd quarter worth approximately $204,000. BlackRock Inc. acquired a new stake in Northern Technologies International during the 2nd quarter valued at $413,000. Needham Investment Management LLC raised its position in 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 valued at $5,585,000 after purchasing an additional 73,257 shares during the last quarter. Finally, North Star Investment Management Corp. acquired a new position in Northern Technologies International in the first quarter worth $1,220,000. 32.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NTIC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Northern Technologies International in a research note on Wednesday, June 24th. Zacks Research raised Northern Technologies International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

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.