Sono-Tek Corporation (NASDAQ:SOTK) Sees Large Decrease in Short Interest

Sono-Tek Corporation (NASDAQ:SOTK) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totaling 4,517 shares, a decrease of 55.7% from the May 31st total of 10,186 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 46,437 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Sono-Tek

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in Sono-Tek by 12.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,200 shares of the industrial products company’s stock worth $88,000 after acquiring an additional 2,427 shares in the last quarter. Bard Associates Inc. grew its stake in shares of Sono-Tek by 7.0% during the fourth quarter. Bard Associates Inc. now owns 43,244 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 2,838 shares during the last quarter. Susquehanna International Group LLP raised its position in shares of Sono-Tek by 28.2% in the 3rd quarter. Susquehanna International Group LLP now owns 15,410 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 3,389 shares during the last quarter. HM Payson & Co. purchased a new position in shares of Sono-Tek in the 4th quarter valued at approximately $89,000. Finally, Renaissance Technologies LLC boosted its stake in Sono-Tek by 62.6% in the 4th quarter. Renaissance Technologies LLC now owns 62,939 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 24,239 shares in the last quarter. 47.89% of the stock is currently owned by hedge funds and other institutional investors.

Sono-Tek Stock Performance

NASDAQ SOTK opened at $5.32 on Monday. The firm’s fifty day simple moving average is $4.99 and its two-hundred day simple moving average is $4.40. Sono-Tek has a 12-month low of $3.23 and a 12-month high of $5.74. The firm has a market capitalization of $83.58 million, a P/E ratio of 48.37 and a beta of -0.03.

Sono-Tek (NASDAQ:SOTK) last issued its quarterly earnings results on Thursday, May 28th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $5.61 million for the quarter, compared to the consensus estimate of $5.59 million. Sono-Tek had a return on equity of 9.52% and a net margin of 8.64%. As a group, sell-side analysts predict that Sono-Tek will post 0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SOTK shares. Truist Financial set a $8.50 price target on shares of Sono-Tek in a research note on Friday, March 13th. Weiss Ratings upgraded Sono-Tek from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Sono-Tek Company Profile

Sono-Tek Corporation is a specialized equipment manufacturer that designs, develops and sells ultrasonic spray coating systems for precision fluid delivery. The company’s core technology uses high-frequency ultrasonic vibrations to generate fine, uniform droplets that can be applied to a broad range of substrates with minimal waste and high accuracy. This method enables precise control over coating thickness, distribution and material usage, making it well suited to applications requiring micro-scale deposition and tight process tolerances.

The company’s product portfolio includes bench-top research and development stations, pilot-scale units and full production systems.