Short Interest in Sono-Tek Co. (NASDAQ:SOTK) Declines By 39.2%

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

Wall Street Analyst Weigh In

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

Sono-Tek Stock Performance

Shares of SOTK traded up $0.01 during midday trading on Friday, hitting $3.70. 2,504 shares of the stock were exchanged, compared to its average volume of 9,628. Sono-Tek has a 52-week low of $3.50 and a 52-week high of $6.05. The stock has a fifty day simple moving average of $3.96 and a 200 day simple moving average of $4.20. The firm has a market cap of $58.28 million, a P/E ratio of 52.86 and a beta of -0.20.

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, meeting the consensus estimate of $0.02. Sono-Tek had a return on equity of 6.55% and a net margin of 5.47%. As a group, equities research analysts forecast that Sono-Tek will post 0.07 EPS for the current fiscal year.

Institutional Trading of Sono-Tek

Several hedge funds have recently modified their holdings of SOTK. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Sono-Tek in the fourth quarter valued at $3,101,000. Northern Trust Corp raised its stake 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 valued at $165,000 after buying an additional 15,212 shares in the last quarter. Geode Capital Management LLC raised 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 buying an additional 12,900 shares in the last quarter. Finally, Bard Associates Inc. raised its stake in Sono-Tek by 29.7% in the third quarter. Bard Associates Inc. now owns 53,425 shares of the industrial products company’s stock valued at $215,000 after buying an additional 12,220 shares in the last quarter. 47.89% of the stock is currently owned by institutional investors and hedge funds.

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.