Northern Technologies International Co. (NASDAQ:NTIC) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 24,100 shares, an increase of 61.7% from the May 30th total of 14,900 shares. Based on an average daily trading volume, of 13,500 shares, the short-interest ratio is currently 1.8 days. Currently, 0.6% of the company’s stock are short sold.
Separately, ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.
NTIC traded up $0.11 during trading hours on Friday, hitting $11.60. 6,754 shares of the company’s stock were exchanged, compared to its average volume of 11,455. Northern Technologies International has a 12-month low of $10.40 and a 12-month high of $20.95. The stock’s 50 day moving average price is $21.60. The stock has a market cap of $104.41 million, a price-to-earnings ratio of 16.34 and a beta of 0.96.
A number of institutional investors and hedge funds have recently made changes to their positions in NTIC. Bremer Bank National Association acquired a new position in Northern Technologies International during the 1st quarter worth approximately $26,000. Marshall Wace LLP acquired a new position in Northern Technologies International during the 1st quarter worth approximately $98,000. Bank of America Corp DE acquired a new position in Northern Technologies International during the 4th quarter worth approximately $204,000. Alambic Investment Management L.P. acquired a new position in Northern Technologies International during the 1st quarter worth approximately $266,000. Finally, Granite Investment Partners LLC boosted its holdings in shares of Northern Technologies International by 306.1% in the 1st quarter. Granite Investment Partners LLC now owns 35,957 shares of the specialty chemicals company’s stock valued at $962,000 after buying an additional 27,102 shares in the last quarter. 31.58% of the stock is currently owned by hedge funds and other institutional investors.
About Northern Technologies International
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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