Sono-Tek Co. (NASDAQ:SOTK) Short Interest Update

Sono-Tek Co. (NASDAQ:SOTK) was the target of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 10,100 shares, a decline of 39.2% from the January 31st total of 16,600 shares. Based on an average daily volume of 16,200 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Investors Weigh In On Sono-Tek

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOTK. Northern Trust Corp raised its position 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 purchasing an additional 15,212 shares during the period. Bard Associates Inc. boosted its holdings in Sono-Tek by 29.7% in the 3rd quarter. Bard Associates Inc. now owns 53,425 shares of the industrial products company’s stock worth $215,000 after buying an additional 12,220 shares during the period. Geode Capital Management LLC grew its stake in Sono-Tek by 11.5% in the 3rd 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. Finally, Signature Estate & Investment Advisors LLC bought a new stake in Sono-Tek during the 4th quarter valued at $3,101,000. 47.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Sono-Tek Stock Performance

SOTK traded down $0.02 during midday trading on Monday, reaching $3.68. The company had a trading volume of 2,703 shares, compared to its average volume of 9,455. Sono-Tek has a 12-month low of $3.50 and a 12-month high of $6.05. The business has a 50-day moving average price of $3.95 and a two-hundred day moving average price of $4.20. The stock has a market cap of $57.96 million, a PE ratio of 52.57 and a beta of -0.20.

Sono-Tek (NASDAQ:SOTK) last posted its quarterly earnings data on Monday, January 13th. The industrial products company reported $0.02 EPS for the quarter, meeting 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 anticipate that Sono-Tek will post 0.07 earnings per share for the current 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.