Sono-Tek (NASDAQ:SOTK) Shares Pass Below 200 Day Moving Average - What's Next?

Sono-Tek Co. (NASDAQ:SOTK - Get Free Report) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.12 and traded as low as $3.54. Sono-Tek shares last traded at $3.66, with a volume of 4,693 shares traded.

Wall Street Analysts Forecast Growth

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.

Sono-Tek Stock Down 0.6 %

The firm has a market cap of $55.92 million, a PE ratio of 50.71 and a beta of -0.24. The firm's fifty day simple moving average is $3.76 and its two-hundred day simple moving average is $4.11.

Sono-Tek (NASDAQ:SOTK - Get Free Report) last released its earnings results on Monday, January 13th. The industrial products company reported $0.02 earnings per share for the quarter, meeting analysts' consensus estimates of $0.02. Sono-Tek had a net margin of 5.47% and a return on equity of 6.55%. As a group, analysts anticipate that Sono-Tek Co. will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sono-Tek

A number of hedge funds have recently made changes to their positions in SOTK. Northern Trust Corp lifted its holdings 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 purchasing an additional 15,212 shares in the last quarter. Bard Associates Inc. raised its position 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 valued at $226,000 after buying an additional 3,006 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 worth $505,000 after buying an additional 12,900 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of Sono-Tek in the fourth quarter worth $3,101,000. Institutional investors own 47.89% of the company's stock.

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.