Sono-Tek Co. (NASDAQ:SOTK) Sees Significant Decrease in Short Interest

Sono-Tek Co. (NASDAQ:SOTK) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 6,500 shares, a decrease of 35.6% from the February 13th total of 10,100 shares. Based on an average trading volume of 15,700 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the company’s shares are sold short.

Sono-Tek Price Performance

Shares of SOTK stock traded up $0.03 during trading hours on Friday, reaching $3.63. 17,691 shares of the stock were exchanged, compared to its average volume of 11,578. The business’s fifty day moving average is $3.86 and its two-hundred day moving average is $4.17. The firm has a market capitalization of $57.18 million, a P/E ratio of 51.86 and a beta of -0.24. Sono-Tek has a 12-month low of $3.50 and a 12-month high of $6.05.

Sono-Tek (NASDAQ:SOTK) last issued its earnings results on Monday, January 13th. The industrial products company reported $0.02 earnings per share for the quarter, hitting 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 predict that Sono-Tek will post 0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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 note on Tuesday, January 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Bard Associates Inc. boosted 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 acquiring an additional 12,220 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 12,900 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in Sono-Tek during the 4th quarter worth approximately $3,101,000. Finally, 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 worth $165,000 after buying an additional 15,212 shares during the last quarter. 47.89% of the stock is owned by hedge funds and other institutional investors.

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.