Sono-Tek Co. (NASDAQ:SOTK) Sees Significant Growth in Short Interest

Sono-Tek Co. (NASDAQ:SOTK) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 11,600 shares, a growth of 33.3% from the October 15th total of 8,700 shares. Based on an average daily trading volume, of 10,100 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.1% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Northland Securities restated an “outperform” rating and issued a $10.00 price objective on shares of Sono-Tek in a report on Wednesday, October 16th.

Institutional Trading of Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Geode Capital Management LLC grew its stake in Sono-Tek Co. (NASDAQ:SOTK) by 11.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,355 shares of the industrial products company’s stock after acquiring an additional 12,900 shares during the quarter. Geode Capital Management LLC owned 0.80% of Sono-Tek worth $505,000 at the end of the most recent quarter. 47.89% of the stock is currently owned by hedge funds and other institutional investors.

Sono-Tek Trading Up 0.5 %

SOTK traded up $0.02 during trading on Friday, reaching $4.47. The stock had a trading volume of 5,664 shares, compared to its average volume of 10,985. The company has a market capitalization of $70.39 million, a price-to-earnings ratio of 49.66 and a beta of -0.28. The stock’s 50 day moving average is $4.25 and its two-hundred day moving average is $4.24. Sono-Tek has a one year low of $3.50 and a one year high of $6.12.

Sono-Tek (NASDAQ:SOTK) last issued its quarterly earnings results on Tuesday, October 15th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $5.16 million during the quarter, compared to analyst estimates of $5.23 million. Sono-Tek had a net margin of 7.36% and a return on equity of 9.20%. During the same period last year, the business earned $0.03 EPS. On average, equities research analysts predict that Sono-Tek will post 0.07 earnings per share for the current year.

About Sono-Tek

Sono-Tek Corporation designs and manufactures ultrasonic coating systems for applying on parts and components for the microelectronics/electronics, alternative energy, medical, industrial, and research and development/other markets worldwide. The company also designs and manufactures custom-engineered ultrasonic coating systems; and provides nozzles and generators for manufacturers' equipment.