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

Sono-Tek Co. (NASDAQ:SOTK - Get Free Report) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 4,200 shares, a decrease of 50.6% from the November 15th total of 8,500 shares. Based on an average daily trading volume, of 10,700 shares, the short-interest ratio is presently 0.4 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Northland Securities reiterated an "outperform" rating and issued a $10.00 target price on shares of Sono-Tek in a report on Wednesday, October 16th.

Institutional Trading of Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Bard Associates Inc. grew its position in Sono-Tek Co. (NASDAQ:SOTK - Free Report) by 29.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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. 47.89% of the stock is owned by institutional investors and hedge funds.

Sono-Tek Price Performance

Shares of NASDAQ SOTK traded up $0.32 during trading hours on Thursday, hitting $4.83. 5,556 shares of the company's stock were exchanged, compared to its average volume of 10,992. The company's 50-day moving average price is $4.45 and its 200-day moving average price is $4.23. Sono-Tek has a 1-year low of $3.50 and a 1-year high of $6.12. The stock has a market capitalization of $76.08 million, a price-to-earnings ratio of 49.78 and a beta of -0.25.

Sono-Tek (NASDAQ:SOTK - Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The industrial products company reported $0.02 EPS for the quarter, hitting 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 period in the previous year, the company earned $0.03 earnings per share. On average, research analysts expect that Sono-Tek will post 0.07 earnings per share for the current 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.