Northern Technologies International Co. (NASDAQ:NTIC) Sees Significant Growth in Short Interest

Northern Technologies International Co. (NASDAQ:NTIC) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totalling 24,100 shares, a growth of 61.7% from the May 30th total of 14,900 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 13,500 shares, the short-interest ratio is presently 1.8 days.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bremer Bank National Association bought a new position in shares of Northern Technologies International in the 1st quarter valued at $26,000. Wilen Investment Management CORP. increased its stake in shares of Northern Technologies International by 2.1% in the 1st quarter. Wilen Investment Management CORP. now owns 48,838 shares of the specialty chemicals company’s stock valued at $1,245,000 after purchasing an additional 1,025 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Northern Technologies International by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 172,473 shares of the specialty chemicals company’s stock valued at $5,103,000 after purchasing an additional 1,773 shares during the last quarter. FMR LLC increased its stake in shares of Northern Technologies International by 3.7% in the 1st quarter. FMR LLC now owns 76,425 shares of the specialty chemicals company’s stock valued at $2,044,000 after purchasing an additional 2,706 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Northern Technologies International during the 1st quarter worth $98,000. Institutional investors own 31.58% of the company’s stock.

Separately, ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.

Shares of NTIC traded down $0.02 during midday trading on Thursday, hitting $11.49. The company’s stock had a trading volume of 2,700 shares, compared to its average volume of 18,682. Northern Technologies International has a one year low of $10.40 and a one year high of $20.95. The company’s fifty day moving average price is $21.88. The company has a market cap of $104.45 million, a PE ratio of 16.18 and a beta of 0.97.

Northern Technologies International (NASDAQ:NTIC) last issued its quarterly earnings results on Tuesday, July 9th. The specialty chemicals company reported $0.16 earnings per share (EPS) for the quarter. Northern Technologies International had a return on equity of 12.70% and a net margin of 13.04%. The company had revenue of $14.89 million for the quarter. As a group, research analysts anticipate that Northern Technologies International will post 0.88 earnings per share for the current fiscal year.

Northern Technologies International Company Profile

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting products and services to automotive, electronics, electrical, mechanical, military, retail consumer, and oil and gas markets. 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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