Sono-Tek Co. (NASDAQ:SOTK) Sees Large Drop in Short Interest

Sono-Tek Co. (NASDAQ:SOTK) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 6,500 shares, a decline of 35.6% from the February 13th total of 10,100 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 15,700 shares, the days-to-cover ratio is presently 0.4 days.

Sono-Tek Trading Up 0.5 %

SOTK traded up $0.02 during midday trading on Monday, reaching $3.62. The company’s stock had a trading volume of 17,691 shares, compared to its average volume of 11,531. Sono-Tek has a twelve month low of $3.50 and a twelve month high of $6.05. The stock has a market cap of $57.00 million, a P/E ratio of 51.70 and a beta of -0.24. The company has a fifty day simple moving average of $3.86 and a 200 day simple moving average of $4.17.

Sono-Tek (NASDAQ:SOTK) last announced 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 net margin of 5.47% and a return on equity of 6.55%. Sell-side analysts expect that Sono-Tek will post 0.07 earnings per share for the current year.

Institutional Investors Weigh In On Sono-Tek

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

Wall Street Analysts Forecast Growth

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

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.