Sono-Tek Co. (NASDAQ:SOTK) Short Interest Down 39.2% in February

Sono-Tek Co. (NASDAQ:SOTK) was the recipient of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 10,100 shares, a decrease of 39.2% from the January 31st total of 16,600 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 16,200 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On Sono-Tek

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bard Associates Inc. raised its holdings in shares of Sono-Tek by 29.7% in the 3rd quarter. Bard Associates Inc. now owns 53,425 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 12,220 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sono-Tek by 11.5% during the 3rd quarter. Geode Capital Management LLC now owns 125,355 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 12,900 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of Sono-Tek during the 4th quarter worth $3,101,000. Finally, Northern Trust Corp boosted its stake in shares of Sono-Tek by 58.8% during the 4th quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 15,212 shares in the last quarter. 47.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Northland Securities reissued an “outperform” rating and set a $7.50 price target (down previously from $10.00) on shares of Sono-Tek in a report on Tuesday, January 14th.

Sono-Tek Stock Performance

NASDAQ:SOTK opened at $3.68 on Tuesday. The stock has a market cap of $57.96 million, a price-to-earnings ratio of 52.57 and a beta of -0.20. Sono-Tek has a 1 year low of $3.50 and a 1 year high of $6.05. The business has a fifty day moving average of $3.95 and a 200-day moving average of $4.20.

Sono-Tek (NASDAQ:SOTK) last released its earnings results on Monday, January 13th. The industrial products company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Sono-Tek had a net margin of 5.47% and a return on equity of 6.55%. On average, equities research analysts predict that Sono-Tek will post 0.07 EPS for the current year.

Sono-Tek Company Profile

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.