Short Interest in Sono-Tek Co. (NASDAQ:SOTK) Expands By 29.9%

Sono-Tek Co. (NASDAQ:SOTK - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 8,700 shares, an increase of 29.9% from the March 15th total of 6,700 shares. Approximately 0.1% of the company's shares are short sold. Based on an average trading volume of 7,600 shares, the short-interest ratio is presently 1.1 days.

Sono-Tek Price Performance

Sono-Tek stock traded up $0.09 during mid-day trading on Thursday, hitting $4.05. The company's stock had a trading volume of 10,442 shares, compared to its average volume of 11,390. Sono-Tek has a 52-week low of $3.50 and a 52-week high of $6.05. The company has a market cap of $63.79 million, a PE ratio of 57.86 and a beta of -0.10. The firm's 50 day moving average is $3.67 and its 200 day moving average is $4.06.

Analyst Ratings Changes

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 research note on Tuesday, January 14th.

Institutional Trading of Sono-Tek

Several institutional investors have recently made changes to their positions in the stock. Northern Trust Corp lifted its position in Sono-Tek by 58.8% in the 4th 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 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 acquiring an additional 3,006 shares in the last quarter. Geode Capital Management LLC boosted its position in Sono-Tek by 11.5% during the third quarter. Geode Capital Management LLC now owns 125,355 shares of the industrial products company's stock valued at $505,000 after purchasing an additional 12,900 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in Sono-Tek during the fourth quarter valued at $3,101,000. 47.89% of the stock is currently owned by institutional investors and hedge funds.

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.