Northern Technologies International (NASDAQ:NTIC) Share Price Passes Above 200 Day Moving Average – Here’s Why

Northern Technologies International Corporation (NASDAQ:NTIC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.98 and traded as high as $9.22. Northern Technologies International shares last traded at $9.22, with a volume of 2,454 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on NTIC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Northern Technologies International in a report on Monday, December 29th. Zacks Research raised shares of Northern Technologies International from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Wall Street Zen raised shares of Northern Technologies International to a “hold” rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Northern Technologies International currently has a consensus rating of “Reduce”.

Northern Technologies International Trading Up 2.6%

The company’s 50-day moving average is $8.62 and its 200-day moving average is $7.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.13 and a current ratio of 1.77. The firm has a market cap of $87.50 million, a price-to-earnings ratio of -230.50 and a beta of 0.21.

Northern Technologies International (NASDAQ:NTIC) last announced its earnings results on Thursday, January 8th. The specialty chemicals company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Northern Technologies International had a negative return on equity of 0.44% and a negative net margin of 0.35%.The company had revenue of $23.31 million during the quarter, compared to the consensus estimate of $22.10 million. On average, research analysts predict that Northern Technologies International Corporation will post 0.56 earnings per share for the current year.

Northern Technologies International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $0.04 annualized dividend and a yield of 0.4%. Northern Technologies International’s dividend payout ratio is currently -100.00%.

Institutional Investors Weigh In On Northern Technologies International

Several hedge funds and other institutional investors have recently made changes to their positions in NTIC. Osaic Holdings Inc. lifted its stake in shares of Northern Technologies International by 1,124.1% during the second 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 during the period. Qube Research & Technologies Ltd bought a new stake in Northern Technologies International during the 2nd quarter worth about $88,000. XTX Topco Ltd acquired a new position in Northern Technologies International during the 4th quarter valued at about $96,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Northern Technologies International in the 2nd quarter valued at about $130,000. Finally, Squarepoint Ops LLC boosted its stake in shares of Northern Technologies International by 57.5% in the 3rd 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 last quarter. 32.88% of the stock is owned by institutional investors and hedge funds.

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.