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

Sono-Tek Co. (NASDAQ:SOTK) was the target of a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 6,200 shares, a decline of 45.6% from the April 30th total of 11,400 shares. Based on an average daily volume of 7,500 shares, the short-interest ratio is presently 0.8 days. Approximately 0.1% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SOTK. Northland Capmk cut shares of Sono-Tek from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Northland Securities restated a “market perform” rating on shares of Sono-Tek in a research report on Thursday.

Sono-Tek Trading Down 2.3%

Shares of NASDAQ SOTK opened at $3.79 on Friday. Sono-Tek has a 12-month low of $3.50 and a 12-month high of $6.05. The stock has a market cap of $59.70 million, a P/E ratio of 54.14 and a beta of -0.02. The business’s fifty day simple moving average is $3.78 and its 200-day simple moving average is $3.99.

Sono-Tek (NASDAQ:SOTK) last issued its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.07. The company had revenue of $5.12 million during the quarter, compared to the consensus estimate of $5.12 million. Sono-Tek had a net margin of 5.47% and a return on equity of 6.55%. During the same quarter in the previous year, the firm earned $0.01 earnings per share. On average, equities analysts forecast that Sono-Tek will post 0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SOTK. Northern Trust Corp boosted its holdings in shares of Sono-Tek by 58.8% in the 4th quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company’s stock valued at $165,000 after buying an additional 15,212 shares in the last quarter. Bard Associates Inc. grew its holdings in shares of Sono-Tek by 5.6% during the fourth quarter. Bard Associates Inc. now owns 56,431 shares of the industrial products company’s stock worth $226,000 after buying an additional 3,006 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new position 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.