Sono-Tek Co. (NASDAQ:SOTK) Sees Significant Growth in Short Interest

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sono-Tek stock. Bard Associates Inc. grew its holdings in Sono-Tek Co. (NASDAQ:SOTK - Free Report) by 29.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,425 shares of the industrial products company's stock after acquiring an additional 12,220 shares during the quarter. Bard Associates Inc. owned 0.34% of Sono-Tek worth $215,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 47.89% of the company's stock.

Sono-Tek Stock Performance

Shares of NASDAQ:SOTK traded down $0.01 during trading on Wednesday, hitting $3.95. 2,475 shares of the stock were exchanged, compared to its average volume of 13,460. The company has a market capitalization of $62.21 million, a price-to-earnings ratio of 56.43 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's fifty day simple moving average is $4.32 and its 200-day simple moving average is $4.21.

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 for the quarter, meeting the consensus estimate of $0.02. Sono-Tek had a net margin of 5.47% and a return on equity of 6.55%. On average, research analysts forecast that Sono-Tek will post 0.07 earnings per share for the current fiscal year.

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.

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