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

Sono-Tek Co. (NASDAQ:SOTK) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 11,600 shares, an increase of 33.3% from the October 15th total of 8,700 shares. Based on an average daily trading volume, of 10,100 shares, the short-interest ratio is currently 1.1 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Geode Capital Management LLC grew its position in shares of Sono-Tek Co. (NASDAQ:SOTK) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,355 shares of the industrial products company’s stock after buying an additional 12,900 shares during the quarter. Geode Capital Management LLC owned 0.80% of Sono-Tek worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 47.89% of the company’s stock.

Wall Street Analyst Weigh In

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

Sono-Tek Stock Performance

Shares of NASDAQ:SOTK traded up $0.02 during midday trading on Friday, reaching $4.47. 5,664 shares of the company’s stock traded hands, compared to its average volume of 10,985. Sono-Tek has a one year low of $3.50 and a one year high of $6.12. The company has a market cap of $70.39 million, a price-to-earnings ratio of 49.66 and a beta of -0.28. The stock has a 50 day moving average of $4.25 and a 200 day moving average of $4.24.

Sono-Tek (NASDAQ:SOTK) last posted its earnings results on Tuesday, October 15th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Sono-Tek had a net margin of 7.36% and a return on equity of 9.20%. The business had revenue of $5.16 million for the quarter, compared to analysts’ expectations of $5.23 million. During the same quarter in the prior year, the business earned $0.03 EPS. Sell-side analysts predict that Sono-Tek will post 0.07 EPS for the current fiscal year.

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.