Sono-Tek Co. (NASDAQ:SOTK) Sees Large Growth in Short Interest

Sono-Tek Co. (NASDAQ:SOTK) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 16,600 shares, a growth of 28.7% from the January 15th total of 12,900 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 16,700 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Trading of Sono-Tek

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew 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 acquiring an additional 12,900 shares during the period. Bard Associates Inc. boosted its position in Sono-Tek by 29.7% during the third quarter. Bard Associates Inc. now owns 53,425 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 12,220 shares in the last quarter. Northern Trust Corp boosted 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 purchasing an additional 15,212 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new position in Sono-Tek during the fourth quarter worth approximately $3,101,000. 47.89% of the stock is owned by institutional investors and hedge funds.

Sono-Tek Price Performance

Shares of NASDAQ:SOTK opened at $3.93 on Friday. The business’s 50-day moving average is $4.12 and its 200 day moving average is $4.20. Sono-Tek has a 1 year low of $3.50 and a 1 year high of $6.05. The firm has a market capitalization of $61.90 million, a P/E ratio of 56.14 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 for the quarter, meeting analysts’ consensus estimates of $0.02. Sono-Tek had a return on equity of 6.55% and a net margin of 5.47%. On average, analysts expect that Sono-Tek will post 0.07 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Northland Securities restated an “outperform” rating and set a $7.50 price objective (down from $10.00) on shares of Sono-Tek in a research note 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.