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

Sono-Tek Co. (NASDAQ:SOTK)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.12 and traded as low as $3.54. Sono-Tek shares last traded at $3.66, with a volume of 4,693 shares trading hands.

Wall Street Analysts Forecast Growth

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

Sono-Tek Trading Up 0.6 %

The business’s fifty day simple moving average is $3.76 and its 200 day simple moving average is $4.11. The stock has a market cap of $56.23 million, a price-to-earnings ratio of 51.00 and a beta of -0.24.

Sono-Tek (NASDAQ:SOTK) last released its quarterly earnings data on Monday, January 13th. The industrial products company reported $0.02 EPS for the quarter, meeting 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, research analysts anticipate that Sono-Tek Co. will post 0.07 earnings per share for the current year.

Institutional Investors Weigh In On Sono-Tek

Several hedge funds have recently bought and sold shares of SOTK. Northern Trust Corp grew its holdings in shares of 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 buying an additional 15,212 shares during the period. Bard Associates Inc. lifted 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 worth $226,000 after acquiring an additional 3,006 shares in the last quarter. Geode Capital Management LLC grew its stake in Sono-Tek by 11.5% in the third quarter. Geode Capital Management LLC now owns 125,355 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 12,900 shares during the period. Finally, Signature Estate & Investment Advisors LLC bought a new stake in shares of Sono-Tek in the fourth quarter worth about $3,101,000. 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.