Short Interest in Sono-Tek Co. (NASDAQ:SOTK) Grows By 185.4%

Sono-Tek Co. (NASDAQ:SOTK - Get Free Report) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 13,700 shares, a growth of 185.4% from the December 15th total of 4,800 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 18,000 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, Northland Securities reissued an "outperform" rating and set a $7.50 target price (down previously from $10.00) on shares of Sono-Tek in a research note on Tuesday.

Sono-Tek Stock Performance

Shares of SOTK stock traded up $0.18 during trading hours on Tuesday, reaching $3.95. The company had a trading volume of 4,505 shares, compared to its average volume of 19,851. Sono-Tek has a 12-month low of $3.50 and a 12-month high of $6.12. The company has a market capitalization of $62.22 million, a price-to-earnings ratio of 43.89 and a beta of -0.20. The stock has a fifty day moving average of $4.42 and a 200-day moving average of $4.22.

Sono-Tek (NASDAQ:SOTK - Get Free Report) last announced its quarterly earnings data on Monday, January 13th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.02. Sono-Tek had a net margin of 7.36% and a return on equity of 9.20%. On average, analysts forecast that Sono-Tek will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sono-Tek stock. Bard Associates Inc. grew its holdings in Sono-Tek Co. (NASDAQ:SOTK - Free Report) by 29.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & 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 & Exchange Commission. Institutional investors own 47.89% of the company's stock.

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.