Sono-Tek Co. (NASDAQ:SOTK - Get Free Report) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 6,500 shares, a decline of 35.6% from the February 13th total of 10,100 shares. Based on an average daily volume of 15,700 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the company's stock are short sold.
Institutional Trading of Sono-Tek
Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings 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 in the last quarter. Bard Associates Inc. raised its holdings in shares of 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 purchasing an additional 3,006 shares during the period. Northern Trust Corp raised its holdings in shares of Sono-Tek by 58.8% during the fourth quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company's stock worth $165,000 after purchasing an additional 15,212 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Sono-Tek during the fourth quarter worth $3,101,000. 47.89% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Northland Securities reissued an "outperform" rating and set a $7.50 target price (down from $10.00) on shares of Sono-Tek in a research report on Tuesday, January 14th.
Get Our Latest Stock Report on SOTK
Sono-Tek Price Performance
SOTK traded up $0.03 during trading on Friday, hitting $3.63. The company had a trading volume of 17,691 shares, compared to its average volume of 11,578. The company has a market cap of $57.18 million, a PE ratio of 51.86 and a beta of -0.24. The business has a 50-day moving average of $3.86 and a 200-day moving average of $4.17. Sono-Tek has a 1-year low of $3.50 and a 1-year high of $6.05.
Sono-Tek (NASDAQ:SOTK - Get Free Report) last posted its quarterly earnings results on Monday, January 13th. The industrial products company reported $0.02 earnings per share (EPS) 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%. Research analysts forecast that Sono-Tek will post 0.07 earnings per share for the current year.
Sono-Tek Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Sono-Tek, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sono-Tek wasn't on the list.
While Sono-Tek currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.