Northern Technologies International (NASDAQ:NTIC) Downgraded to “Sell” Rating by StockNews.com

Northern Technologies International (NASDAQ:NTIC) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

Northern Technologies International Stock Performance

Shares of NASDAQ NTIC traded down $0.43 during trading on Monday, hitting $7.25. 95,761 shares of the company traded hands, compared to its average volume of 34,214. The business’s fifty day moving average is $10.82 and its 200 day moving average is $12.27. The firm has a market capitalization of $68.66 million, a price-to-earnings ratio of 13.94 and a beta of 0.26. Northern Technologies International has a fifty-two week low of $7.15 and a fifty-two week high of $19.63.

Northern Technologies International (NASDAQ:NTIC) last released its quarterly earnings results on Thursday, April 10th. The specialty chemicals company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.09). Northern Technologies International had a net margin of 5.89% and a return on equity of 7.48%. The company had revenue of $19.07 million for the quarter, compared to analyst estimates of $20.20 million. During the same quarter last year, the firm posted $0.17 EPS. On average, analysts predict that Northern Technologies International will post 0.56 EPS for the current year.

Hedge Funds Weigh In On Northern Technologies International

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in Northern Technologies International by 51.8% in the 4th quarter. Wells Fargo & Company MN now owns 3,677 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 1,254 shares during the period. Manatuck Hill Partners LLC bought a new stake in shares of Northern Technologies International in the 4th quarter worth approximately $139,000. JPMorgan Chase & Co. lifted its stake in Northern Technologies International by 98.9% in the third quarter. JPMorgan Chase & Co. now owns 11,720 shares of the specialty chemicals company’s stock worth $144,000 after purchasing an additional 5,828 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in Northern Technologies International during the 4th quarter valued at about $146,000. Finally, Bank of America Corp DE grew its holdings in shares of Northern Technologies International by 17.7% in the fourth quarter. Bank of America Corp DE now owns 12,089 shares of the specialty chemicals company’s stock worth $163,000 after purchasing an additional 1,817 shares during the last quarter. 32.88% of the stock is currently owned by institutional investors.

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.