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

Sono-Tek Co. (NASDAQ:SOTK) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 6,500 shares, a decline of 35.6% from the February 13th total of 10,100 shares. Based on an average daily volume of 15,700 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the shares of the company are short sold.

Sono-Tek Price Performance

Shares of SOTK stock traded up $0.03 during midday trading on Friday, hitting $3.63. The company had a trading volume of 17,691 shares, compared to its average volume of 11,578. The stock has a market cap of $57.18 million, a price-to-earnings ratio of 51.86 and a beta of -0.24. The company’s 50 day simple moving average is $3.86 and its 200 day simple moving average is $4.17. Sono-Tek has a 52-week low of $3.50 and a 52-week high of $6.05.

Sono-Tek (NASDAQ:SOTK) last issued its quarterly 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%. Analysts anticipate that Sono-Tek will post 0.07 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Sono-Tek

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Sono-Tek by 11.5% during the third quarter. Geode Capital Management LLC now owns 125,355 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 12,900 shares in the last quarter. Bard Associates Inc. increased its position in Sono-Tek by 5.6% during the 4th quarter. Bard Associates Inc. now owns 56,431 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 3,006 shares during the period. Northern Trust Corp raised its stake in shares of 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 in the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Sono-Tek in the 4th quarter valued at approximately $3,101,000. Hedge funds and other institutional investors own 47.89% of the company’s stock.

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.