Northern Technologies International (NASDAQ:NTIC) Upgraded by Zacks Research to Hold Rating

Key Points

• Zacks Research upgraded Northern Technologies International from “strong sell” to “hold,” though Weiss Ratings maintained a “sell” rating; the consensus rating remains “Reduce.”
• NTIC shares opened at $7.59, down 3.9%, near their 52-week low. The company reported a quarterly loss of $0.02 per share, missing estimates by $0.06, despite revenue of $24.22 million exceeding expectations.
• Company insiders sold 28,072 shares worth approximately $224,576 over the past 90 days, while institutional investors own 32.88% of NTIC’s outstanding stock.

Northern Technologies International (NASDAQ:NTIC - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Tuesday, Zacks reports.

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Northern Technologies International in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce".

Northern Technologies International Trading Down 3.9%

Shares of Northern Technologies International stock opened at $7.59 on Tuesday. Northern Technologies International has a 1 year low of $7.35 and a 1 year high of $10.03. The company's fifty day simple moving average is $8.14 and its 200-day simple moving average is $8.20. The company has a market cap 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.

Northern Technologies International (NASDAQ:NTIC - Get Free Report) last released its earnings results on Thursday, July 9th. The specialty chemicals company reported ($0.02) EPS 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 for the quarter, compared to analyst estimates of $23.40 million. As a group, sell-side analysts expect that Northern Technologies International will post 0.1 EPS for the current year.

Insider Buying and Selling

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 transaction of $96,000.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO G Patrick Lynch sold 16,070 shares of the company's stock in a transaction on Thursday, July 30th. The shares were 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 of the company's stock, valued at $842,272. The trade was a 13.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 28,072 shares of company stock worth $224,576. 24.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Northern Technologies International

Several institutional investors and hedge funds have recently bought and sold shares of NTIC. Arrowstreet Capital Limited Partnership acquired a new position in shares of Northern Technologies International in the 2nd quarter valued at $130,000. Qube Research & Technologies Ltd acquired a new stake in shares of Northern Technologies International during the 2nd quarter valued at about $88,000. Jane Street Group LLC acquired a new stake in shares of Northern Technologies International during the 2nd quarter valued at about $190,000. Osaic Holdings Inc. grew its stake in shares of Northern Technologies International by 1,124.1% in the 2nd quarter. Osaic Holdings Inc. now owns 3,501 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 3,215 shares during the period. Finally, Squarepoint Ops LLC grew its position in Northern Technologies International by 57.5% in the third quarter. Squarepoint Ops LLC now owns 23,011 shares of the specialty chemicals company's stock valued at $177,000 after acquiring an additional 8,401 shares during the period. Institutional investors own 32.88% of the company's stock.

Northern Technologies International Company Profile

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.

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