Northern Technologies International (NASDAQ:NTIC) Earns Hold Rating from Analysts at StockNews.com

Posted by Defense World Staff on Jun 6th, 2023

Equities researchers at StockNews.com initiated coverage on shares of Northern Technologies International (NASDAQ:NTIC – Get Rating) in a research report issued on Tuesday. The brokerage set a “hold” rating on the specialty chemicals company’s stock.

Separately, Northland Securities cut their target price on shares of Northern Technologies International from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, April 14th.

Northern Technologies International Price Performance

Shares of NASDAQ NTIC opened at $11.28 on Tuesday. The stock has a market capitalization of $105.67 million, a price-to-earnings ratio of 35.24 and a beta of 0.86. The business has a 50-day moving average of $11.59 and a 200-day moving average of $12.40. Northern Technologies International has a fifty-two week low of $9.05 and a fifty-two week high of $15.00.

Insider Activity at Northern Technologies International

In other news, Director Sarah E. Kemp bought 2,473 shares of the business’s stock in a transaction that occurred on Tuesday, April 18th. The stock was acquired at an average cost of $12.13 per share, for a total transaction of $29,997.49. Following the purchase, the director now owns 4,485 shares of the company’s stock, valued at approximately $54,403.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Northern Technologies International

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Northern Technologies International by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 63,719 shares of the specialty chemicals company’s stock worth $848,000 after acquiring an additional 977 shares during the last quarter. Institutional & Family Asset Management LLC increased its holdings in shares of Northern Technologies International by 50.3% during the first quarter. Institutional & Family Asset Management LLC now owns 5,376 shares of the specialty chemicals company’s stock worth $65,000 after purchasing an additional 1,800 shares during the period. Tradition Wealth Management LLC bought a new position in shares of Northern Technologies International during the fourth quarter worth approximately $28,000. UBS Group AG bought a new position in shares of Northern Technologies International during the first quarter worth approximately $30,000. Finally, State Street Corp increased its holdings in shares of Northern Technologies International by 15.0% during the first quarter. State Street Corp now owns 19,227 shares of the specialty chemicals company’s stock worth $231,000 after purchasing an additional 2,512 shares during the period. 34.42% of the stock is currently owned by institutional investors and hedge funds.

About Northern Technologies International

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Northern Technologies International Corp. engages in the development and market of proprietary environmentally beneficial products and technical services. It operates through the Natur-Tec and Zerust segments. The Natur-Tec segment manufactures bio-degradable and bio-based plastics for industrial and consumer applications.