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

Sono-Tek Co. (NASDAQ:SOTK) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 8,500 shares, a drop of 26.7% from the October 31st total of 11,600 shares. Based on an average trading volume of 10,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.1% of the shares of the stock are short sold.

Sono-Tek Stock Up 1.8 %

Shares of SOTK traded up $0.08 during mid-day trading on Friday, reaching $4.74. The company’s stock had a trading volume of 8,743 shares, compared to its average volume of 10,952. The business has a fifty day moving average of $4.32 and a 200 day moving average of $4.24. The company has a market cap of $74.70 million, a price-to-earnings ratio of 51.78 and a beta of -0.28. Sono-Tek has a 1 year low of $3.50 and a 1 year high of $6.12.

Sono-Tek (NASDAQ:SOTK) last released its earnings results on Tuesday, October 15th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $5.16 million during the quarter, compared to analyst estimates of $5.23 million. Sono-Tek had a return on equity of 9.20% and a net margin of 7.36%. During the same quarter in the prior year, the company earned $0.03 earnings per share. On average, analysts predict that Sono-Tek will post 0.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Northland Securities reissued an “outperform” rating and set a $10.00 price objective on shares of Sono-Tek in a research note on Wednesday, October 16th.

Institutional Trading of Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Bard Associates Inc. increased its position in shares of Sono-Tek Co. (NASDAQ:SOTK) by 29.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,425 shares of the industrial products company’s stock after acquiring an additional 12,220 shares during the period. Bard Associates Inc. owned about 0.34% of Sono-Tek worth $215,000 as of its most recent filing with the Securities and Exchange Commission. 47.89% of the stock is currently owned by institutional investors and hedge funds.

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.