Sono-Tek Co. (NASDAQ:SOTK) Short Interest Update

Sono-Tek Co. (NASDAQ:SOTK) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 8,500 shares, a decrease of 26.7% from the October 31st total of 11,600 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 10,000 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analyst Weigh In

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

Sono-Tek Price Performance

SOTK traded up $0.08 on Friday, hitting $4.74. The company had a trading volume of 8,743 shares, compared to its average volume of 10,952. The stock has a market cap of $74.66 million, a price-to-earnings ratio of 52.70 and a beta of -0.28. The company’s fifty day moving average price is $4.34 and its 200 day moving average price is $4.24. Sono-Tek has a 1-year low of $3.50 and a 1-year high of $6.12.

Sono-Tek (NASDAQ:SOTK) last released its quarterly earnings results on Tuesday, October 15th. The industrial products company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $5.16 million for 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 quarter last year, the firm posted $0.03 earnings per share. On average, sell-side analysts forecast that Sono-Tek will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sono-Tek stock. Bard Associates Inc. lifted its holdings in Sono-Tek Co. (NASDAQ:SOTK) by 29.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,425 shares of the industrial products company’s stock after purchasing an additional 12,220 shares during the period. Bard Associates Inc. owned 0.34% of Sono-Tek worth $215,000 as of its most recent filing with the SEC. 47.89% of the stock is owned by hedge funds and other institutional investors.

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.