Sono-Tek Co. (NASDAQ:SOTK) Short Interest Down 35.6% in February

Sono-Tek Co. (NASDAQ:SOTK) saw a large decline in short interest in 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. Based on an average daily trading volume, of 15,700 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the shares of the stock are short sold.

Sono-Tek Price Performance

Shares of Sono-Tek stock traded up $0.02 during trading on Monday, hitting $3.62. The stock had a trading volume of 17,691 shares, compared to its average volume of 11,531. Sono-Tek has a fifty-two week low of $3.50 and a fifty-two week high of $6.05. The business has a fifty day moving average of $3.86 and a two-hundred day moving average of $4.17. The firm has a market cap of $57.00 million, a P/E ratio of 51.70 and a beta of -0.24.

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

Institutional Trading of Sono-Tek

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bard Associates Inc. grew its holdings in shares of Sono-Tek by 5.6% during the fourth 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 boosted its position in 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 worth $505,000 after acquiring an additional 12,900 shares during the period. Northern Trust Corp grew its stake in Sono-Tek by 58.8% during the 4th quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company’s stock valued at $165,000 after acquiring an additional 15,212 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Sono-Tek in the 4th quarter valued at 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 restated an “outperform” rating and issued a $7.50 target price (down from $10.00) on shares of Sono-Tek in a research report on Tuesday, January 14th.

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.