Sono-Tek Co. (NASDAQ:SOTK) Short Interest Up 29.9% in March

Sono-Tek Co. (NASDAQ:SOTK) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 8,700 shares, a growth of 29.9% from the March 15th total of 6,700 shares. Based on an average daily volume of 7,600 shares, the short-interest ratio is presently 1.1 days. Currently, 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Sono-Tek

Hedge funds have recently bought and sold shares of the business. Signature Estate & Investment Advisors LLC purchased a new position in shares of Sono-Tek during the 4th quarter valued at approximately $3,101,000. Northern Trust Corp raised its position in Sono-Tek by 58.8% during the fourth quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 15,212 shares during the period. Geode Capital Management LLC raised its position 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 acquiring an additional 12,900 shares during the period. Finally, Bard Associates Inc. lifted its holdings in Sono-Tek by 5.6% during the fourth quarter. Bard Associates Inc. now owns 56,431 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 3,006 shares in the last quarter. Hedge funds and other institutional investors own 47.89% of the company’s stock.

Sono-Tek Stock Performance

SOTK opened at $3.73 on Monday. Sono-Tek has a fifty-two week low of $3.50 and a fifty-two week high of $6.05. The stock has a market capitalization of $58.67 million, a price-to-earnings ratio of 53.21 and a beta of -0.10. The company has a fifty day moving average of $3.67 and a two-hundred day moving average of $4.07.

Wall Street Analyst Weigh In

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 report on Tuesday, January 14th.

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.