Short Interest in Sono-Tek Co. (NASDAQ:SOTK) Declines By 35.6%

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.

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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

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.