Insider Selling: Northern Technologies International (NASDAQ:NTIC) Director Sells $96,000.00 in Stock

Northern Technologies International Corporation (NASDAQ:NTIC) Director Richard Nigon sold 12,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 47,148 shares in the company, valued at $377,184. This represents a 20.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Northern Technologies International Stock Performance

NASDAQ:NTIC opened at $7.98 on Friday. The firm’s 50-day moving average is $8.18 and its 200-day moving average is $8.41. The company has a market cap of $75.81 million, a price-to-earnings ratio of -66.50 and a beta of 0.17. 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 Corporation has a 52-week low of $7.14 and a 52-week high of $10.03.

Northern Technologies International (NASDAQ:NTIC) last released its earnings results 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). Northern Technologies International had a negative net margin of 1.26% and a negative return on equity of 0.45%. The company had revenue of $24.22 million during the quarter, compared to the consensus estimate of $23.40 million. Equities research analysts anticipate that Northern Technologies International Corporation will post 0.1 earnings per share for the current year.

Analyst Ratings Changes

NTIC has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Northern Technologies International in a report on Wednesday, June 24th. Zacks Research lowered Northern Technologies International from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Northern Technologies International

Several hedge funds and other institutional investors have recently modified their holdings of NTIC. Osaic Holdings Inc. raised its stake in Northern Technologies International by 1,124.1% during the second quarter. Osaic Holdings Inc. now owns 3,501 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 3,215 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of Northern Technologies International by 4.1% during the 2nd 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 in the last quarter. Squarepoint Ops LLC lifted its holdings in Northern Technologies International by 57.5% during the 3rd quarter. Squarepoint Ops LLC now owns 23,011 shares of the specialty chemicals company’s stock valued at $177,000 after purchasing an additional 8,401 shares during the last quarter. Jane Street Group LLC boosted its position in Northern Technologies International by 72.4% in the fourth quarter. Jane Street Group LLC now owns 27,302 shares of the specialty chemicals company’s stock valued at $214,000 after buying an additional 11,470 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in Northern Technologies International during the second quarter worth about $88,000. Institutional investors own 32.88% of the company’s stock.

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.