Northern Technologies International (NASDAQ:NTIC) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• Northern Technologies International shares surpassed their 200-day moving average, reaching a trading high of $7.84, indicating positive short-term price momentum.
• The company announced a quarterly dividend of $0.01 per share, with a record date for shareholders on October 29th, resulting in a 0.5% yield.
• Wall Street analysts currently have a consensus rating of "Sell" on Northern Technologies International, highlighting concerns regarding its stock performance.

Northern Technologies International Corporation (NASDAQ:NTIC - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.75 and traded as high as $7.84. Northern Technologies International shares last traded at $7.73, with a volume of 16,017 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Northern Technologies International in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Northern Technologies International from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of "Sell".

Northern Technologies International Price Performance

The company has a market capitalization of $73.20 million, a PE ratio of 25.77 and a beta of 0.31. The company has a 50 day moving average of $7.64 and a two-hundred day moving average of $7.75.

Northern Technologies International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, October 29th. Northern Technologies International's dividend payout ratio (DPR) is currently 13.33%.

Institutional Trading of Northern Technologies International

A number of institutional investors have recently made changes to their positions in the stock. Peapod Lane Capital LLC purchased a new stake in Northern Technologies International in the second quarter worth approximately $486,000. RBF Capital LLC boosted its stake in shares of Northern Technologies International by 164.0% in the 2nd 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 last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Northern Technologies International in the 2nd quarter worth $254,000. Jane Street Group LLC purchased a new position in shares of Northern Technologies International in the 2nd quarter worth $190,000. Finally, Dynamic Advisor Solutions LLC boosted its position in Northern Technologies International by 28.3% in the third quarter. Dynamic Advisor Solutions LLC now owns 86,932 shares of the specialty chemicals company's stock worth $670,000 after purchasing an additional 19,177 shares during the last quarter. Hedge funds and other institutional investors own 32.88% of the company's stock.

Northern Technologies International Company Profile

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.

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