Artko Capital Expects Further Growth in Northern Technologies (NTIC)

Artko Capital, an investment management company, recently released its second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, an average partnership interest in the fund was down 26.03% net of fees; to date, it is down 33.4% net of fees. However, investments in comparable indexes like Russell 2000, Russell Microcap, and the S&P 500 were down 17.2%, 19.0%, and 16.1%, respectively, in the second quarter. The majority of the fund’s performance was contributed by Currency Exchange International. For more information on the fund’s top picks in 2022, please check its top five holdings.

Artko Capital discussed companies like Northern Technologies International Corporation (NASDAQ:NTIC). Headquartered in Circle Pines, Minnesota, Northern Technologies International Corporation (NASDAQ:NTIC) engages in the business of rust and corrosion management solutions. The stock of Northern Technologies International Corporation (NASDAQ:NTIC) closed at $11.58 per share on August 18, 2022. In one month, the stock returned 10.39% and its shares lost 30.03% of their value over the last 52 weeks. Northern Technologies International Corporation (NASDAQ:NTIC) has a market capitalization of $106.912 million.

Here is what Artko Capital specifically said about Northern Technologies International Corporation (NASDAQ:NTIC):

“Northern Technologies International Corporation (NASDAQ:NTIC) – despite a 10% drop in revenues from China, reported 23% growth in revenues in 2Q22, on the strength of ~50% growth in its two newly developed products: ZERUST Oil & Gas, which prevents corrosion in oil tanks; and Natur-Tec, a recycled bioplastics product portfolio on the strength of continued wide demand for recycled plastic product solutions. As such, the company guided for further growth and increasing profitability for its last fiscal quarter in 2022, as well as seeing continuing growth trends into 2023.”

Photo by Marcell Viragh on Unsplash

Northern Technologies International Corporation (NASDAQ:NTIC) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, Northern Technologies International Corporation (NASDAQ:NTIC) was held by 3 hedge fund portfolios at the end of the first quarter, and 4 in the previous quarter.

We discussed Northern Technologies International Corporation (NASDAQ:NTIC) in another article and shared Artko Capital’s views about the company in the previous quarter. For more investor letters from hedge funds and other prominent investors, you can check our hedge fund investor letters Q2 2022 page.

Disclosure: None. This article is originally published at Insider Monkey.