Northern Technologies International (NASDAQ:NTIC) Director Sells 12,000 Shares

Key Points

• Director Richard Nigon sold 12,000 NTIC shares at an average price of $8.00, generating $96,000 and reducing his holdings by 20.29% to 47,148 shares.
• NTIC recently reported a quarterly loss of $0.02 per share, missing estimates by $0.06, although revenue of $24.22 million exceeded expectations.
• Analyst sentiment is negative: two firms rate the stock “Sell,” including a recent downgrade by Zacks Research to “Strong Sell.” Shares traded near $8.19, within a 52-week range of $7.14 to $10.03.

Northern Technologies International Corporation (NASDAQ:NTIC - Get Free Report) Director Richard Nigon sold 12,000 shares of the 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 completion of the transaction, the director owned 47,148 shares in the company, valued at approximately $377,184. This trade represents a 20.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Northern Technologies International Stock Performance

NASDAQ NTIC traded up $0.16 on Tuesday, hitting $8.19. 4,689 shares of the company's stock traded hands, compared to its average volume of 11,263. The firm has a market capitalization of $77.81 million, a PE ratio of -68.25 and a beta of 0.17. The firm's 50-day moving average price is $8.17 and its two-hundred day moving average price is $8.42. Northern Technologies International Corporation has a 1-year low of $7.14 and a 1-year high of $10.03. 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 announced its quarterly 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). The company had revenue of $24.22 million for the quarter, compared to analyst estimates of $23.40 million. Northern Technologies International had a negative return on equity of 0.45% and a negative net margin of 1.26%. As a group, analysts expect that Northern Technologies International Corporation will post 0.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NTIC. Weiss Ratings reissued a "sell (d)" rating on shares of Northern Technologies International in a report on Wednesday, June 24th. Zacks Research cut Northern Technologies International from a "hold" rating to a "strong sell" rating in a report on Friday, July 10th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Northern Technologies International currently has a consensus rating of "Sell".

Hedge Funds Weigh In On Northern Technologies International

Several large investors have recently modified their holdings of NTIC. Osaic Holdings Inc. grew its position in 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 acquiring an additional 3,215 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Northern Technologies International during the second quarter worth about $88,000. XTX Topco Ltd purchased a new position in shares of Northern Technologies International in the fourth quarter valued at approximately $96,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Northern Technologies International in the second quarter valued at approximately $130,000. Finally, Squarepoint Ops LLC boosted its stake in shares of 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 purchasing an additional 8,401 shares during the period. Institutional investors and hedge funds 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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