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

Sono-Tek Co. (NASDAQ:SOTK) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 8,500 shares, a drop of 26.7% from the October 31st total of 11,600 shares. Based on an average daily trading volume, of 10,000 shares, the short-interest ratio is presently 0.9 days. Currently, 0.1% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Northland Securities restated an “outperform” rating and set a $10.00 target price on shares of Sono-Tek in a report on Wednesday, October 16th.

Institutional Investors Weigh In On Sono-Tek

A hedge fund recently raised its stake in Sono-Tek stock. Bard Associates Inc. increased its position in shares of Sono-Tek Co. (NASDAQ:SOTK) by 29.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,425 shares of the industrial products company’s stock after buying an additional 12,220 shares during the quarter. Bard Associates Inc. owned 0.34% of Sono-Tek worth $215,000 at the end of the most recent quarter. 47.89% of the stock is owned by hedge funds and other institutional investors.

Sono-Tek Stock Performance

Shares of NASDAQ:SOTK traded up $0.08 during midday trading on Friday, hitting $4.74. The company’s stock had a trading volume of 8,743 shares, compared to its average volume of 10,952. The stock has a market capitalization of $74.70 million, a price-to-earnings ratio of 51.78 and a beta of -0.28. The stock’s 50 day simple moving average is $4.32 and its 200 day simple moving average is $4.24. Sono-Tek has a fifty-two week low of $3.50 and a fifty-two week high of $6.12.

Sono-Tek (NASDAQ:SOTK) last issued its quarterly earnings results on Tuesday, October 15th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $5.16 million for the quarter, compared to the consensus estimate of $5.23 million. Sono-Tek had a return on equity of 9.20% and a net margin of 7.36%. During the same period last year, the business posted $0.03 earnings per share. As a group, analysts anticipate that Sono-Tek will post 0.07 EPS 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.