Sono-Tek (NASDAQ:SOTK) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Sono-Tek Corporation (NASDAQ:SOTK)’s share price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $4.87 and traded as low as $4.80. Sono-Tek shares last traded at $4.81, with a volume of 238,256 shares.

Analyst Ratings Changes

SOTK has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Sono-Tek from a “strong-buy” rating to a “hold” rating in a report on Saturday, October 17th. Northland Securities upgraded Sono-Tek from a “market perform” rating to an “outperform” rating and set a $7.00 target price on the stock in a report on Monday, October 26th. Finally, Weiss Ratings lowered Sono-Tek from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Sono-Tek has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Sono-Tek Stock Down 7.5%

The stock has a market capitalization of $75.76 million, a P/E ratio of 40.08 and a beta of 0.07. The company has a fifty day simple moving average of $5.37 and a two-hundred day simple moving average of $4.87.

Sono-Tek (NASDAQ:SOTK) last announced its quarterly earnings results on Wednesday, October 14th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $5.23 million during the quarter, compared to the consensus estimate of $5.54 million. Sono-Tek had a return on equity of 9.95% and a net margin of 9.32%. As a group, equities analysts forecast that Sono-Tek Corporation will post 0.08 earnings per share for the current year.

Institutional Trading of Sono-Tek

A number of large investors have recently bought and sold shares of SOTK. Bard Associates Inc. bought a new position in Sono-Tek in the second quarter valued at approximately $349,000. BlackRock Inc. acquired a new position in shares of Sono-Tek in the second quarter valued at approximately $179,000. Renaissance Technologies LLC boosted its holdings in shares of Sono-Tek by 41.6% in the first quarter. Renaissance Technologies LLC now owns 89,100 shares of the industrial products company’s stock valued at $362,000 after buying an additional 26,161 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Sono-Tek in the second quarter valued at approximately $73,000. 47.89% of the stock is owned by institutional investors.

Sono-Tek Company Profile

Sono-Tek Corporation is a precision technology company that designs and manufactures ultrasonic coating and spraying systems. Its equipment uses high-frequency ultrasonic energy to atomize liquids into controlled, uniform sprays, enabling manufacturers to apply thin films, coatings and other materials with minimal overspray and waste.

The company offers ultrasonic spray nozzles, integrated coating systems, precision liquid-dispensing equipment and automated or robotic platforms. Its technologies are used in applications including medical devices, electronics, fuel cells, solar and alternative-energy products, glass and other industrial components.