Sono-Tek Corporation (NASDAQ:SOTK) Short Interest Update

Sono-Tek Corporation (NASDAQ:SOTK) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 19,700 shares, an increase of 60.2% from the September 15th total of 12,300 shares. Based on an average trading volume of 16,400 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.2% of the company’s stock are sold short. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 16,400 shares, the days-to-cover ratio is currently 1.2 days.

Analysts Set New Price Targets

SOTK has been the subject of several research reports. Zacks Research raised shares of Sono-Tek from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sono-Tek in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Sono-Tek currently has a consensus rating of “Hold” and a consensus price target of $7.50.

Sono-Tek Price Performance

Sono-Tek stock opened at $4.62 on Wednesday. The company has a market capitalization of $72.58 million, a P/E ratio of 46.20 and a beta of -0.21. Sono-Tek has a 1 year low of $3.23 and a 1 year high of $6.05. The business has a 50 day moving average of $3.92 and a 200-day moving average of $3.77.

Sono-Tek (NASDAQ:SOTK) last announced its earnings results on Tuesday, October 14th. The industrial products company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Sono-Tek had a return on equity of 8.38% and a net margin of 7.33%.The business had revenue of $5.16 million for the quarter, compared to analysts’ expectations of $5.25 million. During the same period in the prior year, the business posted $0.02 earnings per share. Equities analysts anticipate that Sono-Tek will post 0.07 EPS for the current year.

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.