Northern Technologies International Co. (NASDAQ:NTIC) Sees Significant Growth in Short Interest – MarketBeat
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Northern Technologies International Co. (NASDAQ:NTIC – Get Rating) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 11,100 shares, a growth of 20.7% from the August 15th total of 9,200 shares. Based on an average daily volume of 7,900 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.2% of the shares of the company are sold short.
Northern Technologies International Stock Down 2.4 %
Shares of NASDAQ NTIC traded down $0.28 during midday trading on Friday, reaching $11.18. 8,286 shares of the stock were exchanged, compared to its average volume of 5,637. The firm has a market cap of $103.19 million, a price-to-earnings ratio of 14.71 and a beta of 1.11. Northern Technologies International has a twelve month low of $9.05 and a twelve month high of $18.00. The firm has a 50-day simple moving average of $11.24 and a two-hundred day simple moving average of $11.27.
Northern Technologies International (NASDAQ:NTIC – Get Rating) last issued its quarterly earnings data on Thursday, July 7th. The specialty chemicals company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). Northern Technologies International had a return on equity of 5.75% and a net margin of 10.56%. The firm had revenue of $18.97 million for the quarter, compared to analyst estimates of $19.00 million. During the same period in the previous year, the business earned $0.21 EPS. Research analysts expect that Northern Technologies International will post 0.36 EPS for the current fiscal year.
Northern Technologies International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Wednesday, August 3rd were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 2.50%. Northern Technologies International’s dividend payout ratio is currently 36.84%.
Institutional Investors Weigh In On Northern Technologies International
A number of institutional investors have recently added to or reduced their stakes in NTIC. Meros Investment Management LP acquired a new stake in Northern Technologies International in the 4th quarter valued at $2,943,000. Compass Ion Advisors LLC acquired a new stake in Northern Technologies International in the 1st quarter valued at $165,000. Essex Investment Management Co. LLC grew its stake in Northern Technologies International by 25.3% in the 4th quarter. Essex Investment Management Co. LLC now owns 47,980 shares of the specialty chemicals company’s stock valued at $734,000 after acquiring an additional 9,675 shares during the period. Salem Investment Counselors Inc. lifted its holdings in Northern Technologies International by 234.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 3,708 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 2,600 shares in the last quarter. Finally, State Street Corp lifted its holdings in Northern Technologies International by 15.0% in the 1st quarter. State Street Corp now owns 19,227 shares of the specialty chemicals company’s stock valued at $231,000 after purchasing an additional 2,512 shares in the last quarter. Institutional investors and hedge funds own 34.86% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com assumed coverage on shares of Northern Technologies International in a research note on Saturday, September 10th. They set a “hold” rating on the stock.
About Northern Technologies International
(Get Rating)
Northern Technologies International Corporation develops and markets rust and corrosion inhibiting products and services 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.
See Also
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