Sono-Tek Co. (NASDAQ:SOTK) Sees Large Decline in Short Interest

Sono-Tek Co. (NASDAQ:SOTK) was the target of a significant drop in short interest in February. As of February 15th, there was short interest totalling 10,100 shares, a drop of 39.2% from the January 31st total of 16,600 shares. Based on an average trading volume of 16,200 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Sono-Tek

A number of institutional investors have recently made changes to their positions in SOTK. Northern Trust Corp boosted its holdings in Sono-Tek by 58.8% in the 4th quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 15,212 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in Sono-Tek in the fourth quarter worth $3,101,000. Bard Associates Inc. boosted its holdings in Sono-Tek by 5.6% during the fourth quarter. Bard Associates Inc. now owns 56,431 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 3,006 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Sono-Tek by 11.5% in the 3rd quarter. Geode Capital Management LLC now owns 125,355 shares of the industrial products company’s stock valued at $505,000 after buying an additional 12,900 shares in the last quarter. 47.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Northland Securities reaffirmed an “outperform” rating and set a $7.50 price target (down from $10.00) on shares of Sono-Tek in a research note on Tuesday, January 14th.

Sono-Tek Trading Down 0.5 %

SOTK stock opened at $3.68 on Tuesday. The firm has a market cap of $57.96 million, a PE ratio of 52.57 and a beta of -0.20. Sono-Tek has a 1 year low of $3.50 and a 1 year high of $6.05. The company has a fifty day simple moving average of $3.95 and a 200 day simple moving average of $4.20.

Sono-Tek (NASDAQ:SOTK) last announced its quarterly earnings results on Monday, January 13th. The industrial products company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. Sono-Tek had a return on equity of 6.55% and a net margin of 5.47%. As a group, analysts forecast that Sono-Tek will post 0.07 EPS for the current fiscal year.

About Sono-Tek

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.