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

Northern Technologies International Corporation (NASDAQ:NTIC) was the target of a large decline in short interest during 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. Based on an average trading volume of 5,942 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.1% of the shares of the company are sold short.

Northern Technologies International Stock Performance

Shares of NASDAQ:NTIC traded down $0.11 on Friday, hitting $7.80. The company’s stock had a trading volume of 466 shares, compared to its average volume of 10,696. The company has a market capitalization of $74.07 million, a price-to-earnings ratio of -65.00 and a beta of 0.18. 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 has a 12 month low of $7.35 and a 12 month high of $10.03. The stock’s 50-day moving average is $8.06 and its two-hundred day moving average is $8.16.

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

Insider Activity at Northern Technologies International

In related news, 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 transaction, the director directly owned 47,148 shares in the company, valued at $377,184. This trade represents a 20.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO G Patrick Lynch sold 16,070 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 105,284 shares of the company’s stock, valued at approximately $842,272. The trade was a 13.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 28,072 shares of company stock worth $224,576. Corporate insiders own 24.90% of the company’s stock.

Institutional Trading of Northern Technologies International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Northern Technologies International in the second quarter valued at approximately $413,000. Marquette Asset Management LLC bought a new stake in Northern Technologies International during the second quarter worth approximately $204,000. Dynamic Advisor Solutions LLC raised its holdings 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 in the last quarter. North Star Investment Management Corp. acquired a new stake in Northern Technologies International in the first quarter worth approximately $1,220,000. Finally, Needham Investment Management LLC lifted its position in Northern Technologies International by 11.4% in 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 during the period. 32.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTIC has been the topic of several analyst reports. Zacks Research raised Northern Technologies International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th. Weiss Ratings restated a “sell (d)” rating on shares of Northern Technologies International in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Northern Technologies International has an average rating of “Reduce”.

Northern Technologies International Company Profile

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.