Northern Technologies International (NASDAQ:NTIC) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Northern Technologies International (NASDAQ:NTIC) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks reports.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Northern Technologies International in a report on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

Northern Technologies International Stock Performance

Shares of NTIC stock opened at $7.59 on Tuesday. The firm has a market capitalization of $72.11 million, a price-to-earnings ratio of -63.25 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 business’s 50-day moving average price is $8.14 and its 200-day moving average price is $8.20. Northern Technologies International has a 12 month low of $7.35 and a 12 month high of $10.03.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $24.22 million during the quarter, compared to the consensus estimate of $23.40 million. Equities research analysts forecast that Northern Technologies International will post 0.1 EPS for the current year.

Insider Activity

In other news, Director Richard Nigon sold 12,000 shares of the company’s 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 transaction, the director owned 47,148 shares in the company, valued at approximately $377,184. This represents a 20.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO G Patrick Lynch sold 16,070 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $8.00, for a total value 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 28,072 shares of company stock valued at $224,576. Corporate insiders own 24.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its holdings 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 purchasing an additional 3,215 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of Northern Technologies International by 4.1% in the 2nd 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 during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Northern Technologies International by 57.5% in the 3rd quarter. Squarepoint Ops LLC now owns 23,011 shares of the specialty chemicals company’s stock worth $177,000 after buying an additional 8,401 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of 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 acquiring an additional 11,470 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Northern Technologies International in the second quarter valued at approximately $88,000. Hedge funds and other 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.