Sono-Tek Co. (NASDAQ:SOTK) Short Interest Down 35.6% in February

Sono-Tek Co. (NASDAQ:SOTK - Get Free Report) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 6,500 shares, a drop 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 shares of the company are sold short.

Sono-Tek Stock Up 1.1 %

SOTK traded up $0.04 during trading on Monday, reaching $3.67. The stock had a trading volume of 7,308 shares, compared to its average volume of 11,561. The stock has a 50 day moving average of $3.86 and a two-hundred day moving average of $4.17. The firm has a market capitalization of $57.82 million, a price-to-earnings ratio of 52.44 and a beta of -0.24. 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 released its earnings results on Monday, January 13th. The industrial products company reported $0.02 EPS for the quarter, hitting analysts' consensus estimates 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 EPS for the current fiscal year.

Hedge Funds Weigh In On Sono-Tek

Hedge funds have recently modified their holdings of the stock. Northern Trust Corp boosted its position in shares of Sono-Tek by 58.8% in the fourth quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company's stock worth $165,000 after buying an additional 15,212 shares during the period. Bard Associates Inc. boosted its position in Sono-Tek by 29.7% during the 3rd quarter. Bard Associates Inc. now owns 53,425 shares of the industrial products company's stock worth $215,000 after acquiring an additional 12,220 shares during the period. Geode Capital Management LLC boosted its position in Sono-Tek by 11.5% during the 3rd quarter. Geode Capital Management LLC now owns 125,355 shares of the industrial products company's stock worth $505,000 after acquiring an additional 12,900 shares during the period. Finally, Signature Estate & Investment Advisors LLC purchased a new position in Sono-Tek during the 4th quarter valued at about $3,101,000. 47.89% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

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

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.