Sono-Tek (NASDAQ:SOTK) Given Outperform Rating at Northland Securities

Northland Securities restated their outperform rating on shares of Sono-Tek (NASDAQ:SOTK) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $7.50 price objective on the industrial products company’s stock, down from their previous price objective of $10.00.

Sono-Tek Stock Up 4.8 %

Shares of SOTK stock opened at $3.95 on Tuesday. The stock’s 50-day moving average price is $4.42 and its 200 day moving average price is $4.22. The stock has a market capitalization of $62.22 million, a PE ratio of 43.89 and a beta of -0.20. Sono-Tek has a 52-week low of $3.50 and a 52-week high of $6.12.

Sono-Tek (NASDAQ:SOTK) last released its earnings results on Monday, January 13th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. Sono-Tek had a return on equity of 9.20% and a net margin of 7.36%. Analysts expect that Sono-Tek will post 0.07 earnings per share for the current fiscal year.

Institutional Trading of Sono-Tek

A hedge fund recently raised its stake in Sono-Tek stock. Bard Associates Inc. increased its position in shares of Sono-Tek Co. (NASDAQ:SOTK) by 29.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,425 shares of the industrial products company’s stock after purchasing an additional 12,220 shares during the period. Bard Associates Inc. owned approximately 0.34% of Sono-Tek worth $215,000 as of its most recent SEC filing. Institutional investors own 47.89% of the company’s stock.

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.