Sono-Tek (NASDAQ:SOTK) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Shares of Sono-Tek Co. (NASDAQ:SOTK) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.12 and traded as low as $3.54. Sono-Tek shares last traded at $3.66, with a volume of 4,693 shares.

Wall Street Analysts Forecast Growth

Separately, Northland Securities reissued an “outperform” rating and issued 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 Up 0.6 %

The stock has a market cap of $56.23 million, a price-to-earnings ratio of 51.00 and a beta of -0.24. The company’s 50-day moving average is $3.76 and its 200-day moving average is $4.11.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bard Associates Inc. increased its holdings in Sono-Tek by 5.6% during the 4th quarter. Bard Associates Inc. now owns 56,431 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 3,006 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Sono-Tek by 11.5% in the third quarter. Geode Capital Management LLC now owns 125,355 shares of the industrial products company’s stock valued at $505,000 after buying an additional 12,900 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Sono-Tek by 58.8% in the fourth quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company’s stock valued at $165,000 after buying an additional 15,212 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Sono-Tek during the 4th quarter worth about $3,101,000. Institutional investors own 47.89% of the company’s stock.

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.