Short Interest in Sono-Tek Co. (NASDAQ:SOTK) Drops By 50.0%

Sono-Tek Co. (NASDAQ:SOTK) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 2,000 shares, a decline of 50.0% from the August 15th total of 4,000 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 12,800 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Sono-Tek stock. Bard Associates Inc. increased its position in Sono-Tek Co. (NASDAQ:SOTK) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,280 shares of the industrial products company’s stock after buying an additional 2,030 shares during the period. Bard Associates Inc. owned 0.16% of Sono-Tek worth $137,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 47.89% of the company’s stock.

Sono-Tek Stock Performance

Shares of NASDAQ:SOTK traded down $0.24 during trading on Friday, reaching $4.10. The company had a trading volume of 12,502 shares, compared to its average volume of 5,818. The firm’s fifty day moving average is $4.04 and its 200 day moving average is $4.37. The firm has a market capitalization of $64.58 million, a PE ratio of 41.00 and a beta of -0.28. Sono-Tek has a twelve month low of $3.50 and a twelve month high of $6.12.

Sono-Tek (NASDAQ:SOTK) last released its earnings results on Thursday, July 11th. The industrial products company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Sono-Tek had a net margin of 8.14% and a return on equity of 10.69%. The business had revenue of $5.03 million for the quarter, compared to the consensus estimate of $4.93 million. Equities analysts predict that Sono-Tek will post 0.07 earnings per share for the current fiscal 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.