Short Interest in Northern Technologies International Corporation (NASDAQ:NTIC) Expands By 62.3%

Key Points

• Northern Technologies International Corporation (NASDAQ:NTIC) experienced a 62.3% rise in short interest in July, totaling 45,600 shares, which indicates increased investor skepticism.
• The company reported earnings per share of $0.02 for the last quarter, missing the consensus estimate by $0.02, although revenue of $21.51 million exceeded expectations.
• Northern Technologies recently declared a quarterly dividend of $0.01 per share, translating to an annual yield of 0.5%, with a dividend payout ratio of 13.33%.

Northern Technologies International Corporation (NASDAQ:NTIC - Get Free Report) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 45,600 shares, anincreaseof62.3% from the July 15th total of 28,100 shares. Based on an average daily volume of 46,000 shares, the days-to-cover ratio is currently 1.0 days. Approximately0.6% of the shares of the stock are sold short. Approximately0.6% of the shares of the stock are sold short. Based on an average daily volume of 46,000 shares, the days-to-cover ratio is currently 1.0 days.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Northern Technologies International from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NTIC. Peapod Lane Capital LLC purchased a new position in Northern Technologies International in the second quarter worth approximately $486,000. RBF Capital LLC boosted its position in shares of Northern Technologies International by 164.0% during the second quarter. RBF Capital LLC now owns 64,390 shares of the specialty chemicals company's stock worth $477,000 after buying an additional 40,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Northern Technologies International during the second quarter worth $254,000. Jane Street Group LLC purchased a new position in shares of Northern Technologies International during the second quarter worth $190,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Northern Technologies International during the second quarter worth $130,000. 32.88% of the stock is currently owned by hedge funds and other institutional investors.

Northern Technologies International Price Performance

Shares of NASDAQ:NTIC traded up $0.29 during midday trading on Friday, hitting $7.60. The company had a trading volume of 13,667 shares, compared to its average volume of 21,653. The stock has a market cap of $71.97 million, a price-to-earnings ratio of 25.33 and a beta of 0.27. Northern Technologies International has a twelve month low of $6.75 and a twelve month high of $15.09. The business's 50-day simple moving average is $7.78 and its 200-day simple moving average is $8.67.

Northern Technologies International (NASDAQ:NTIC - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The specialty chemicals company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $21.51 million during the quarter, compared to analysts' expectations of $20.70 million. Northern Technologies International had a return on equity of 3.38% and a net margin of 3.46%.During the same quarter in the previous year, the company posted $0.11 earnings per share. As a group, sell-side analysts forecast that Northern Technologies International will post 0.56 EPS for the current year.

Northern Technologies International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Wednesday, July 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.5%. The ex-dividend date was Wednesday, July 30th. Northern Technologies International's dividend payout ratio is presently 13.33%.

About Northern Technologies International

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting solutions in North America, South America, Europe, Asia, the Middle East and internationally. It offers rust and corrosion inhibiting products, such as plastic and paper packaging, liquids, coatings, rust removers, cleaners, diffusers, and engineered solutions designed for the oil and gas industry under the ZERUST brand.