Sono-Tek Corporation (NASDAQ:SOTK) Short Interest Down 49.7% in August

Sono-Tek Corporation (NASDAQ:SOTK) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 10,512 shares, a drop of 49.7% from the July 30th total of 20,889 shares. Based on an average trading volume of 40,006 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Sono-Tek Price Performance

Shares of Sono-Tek stock opened at $4.89 on Friday. The business’s fifty day moving average price is $5.31 and its two-hundred day moving average price is $4.79. The company has a market capitalization of $76.87 million, a P/E ratio of 37.62 and a beta of -0.03. Sono-Tek has a 1-year low of $3.35 and a 1-year high of $6.24.

Sono-Tek (NASDAQ:SOTK) last released its quarterly earnings results on Wednesday, July 8th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. Sono-Tek had a return on equity of 10.55% and a net margin of 9.62%.The company had revenue of $5.66 million during the quarter, compared to analysts’ expectations of $5.60 million. During the same quarter in the prior year, the business posted $0.03 earnings per share. On average, research analysts expect that Sono-Tek will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sono-Tek news, CFO Stephen James Bagley sold 8,346 shares of Sono-Tek stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $5.13, for a total value of $42,814.98. Following the completion of the transaction, the chief financial officer directly owned 21,254 shares in the company, valued at $109,033.02. The trade was a 28.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 13,000 shares of company stock valued at $67,666 in the last three months. Insiders own 5.57% of the company’s stock.

Institutional Trading of Sono-Tek

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Sono-Tek in the 2nd quarter worth approximately $73,000. Susquehanna International Group LLP raised its holdings in Sono-Tek by 28.2% during the third quarter. Susquehanna International Group LLP now owns 15,410 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 3,389 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Sono-Tek by 29.8% during the third quarter. Dimensional Fund Advisors LP now owns 18,773 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 4,305 shares in the last quarter. HM Payson & Co. acquired a new position in shares of Sono-Tek during the 4th quarter valued at $89,000. Finally, BlackRock Inc. bought a new stake in shares of Sono-Tek in the 2nd quarter worth $179,000. 47.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on SOTK shares. Weiss Ratings upgraded Sono-Tek from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 25th. Wall Street Zen upgraded Sono-Tek to a “strong-buy” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Sono-Tek currently has an average rating of “Moderate Buy” and an average target price 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.