Sono-Tek (NASDAQ:SOTK) Lowered to Hold Rating by Zacks Research

Zacks Research cut shares of Sono-Tek (NASDAQ:SOTK) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Sono-Tek in a research note on Monday. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.50.

Sono-Tek Trading Down 0.3%

SOTK stock traded down $0.01 during midday trading on Monday, reaching $3.69. The company had a trading volume of 1,942 shares, compared to its average volume of 14,785. The company has a 50 day moving average of $4.17 and a two-hundred day moving average of $3.86. The company has a market capitalization of $57.97 million, a P/E ratio of 36.90 and a beta of -0.27. Sono-Tek has a 1 year low of $3.23 and a 1 year high of $6.05.

Sono-Tek (NASDAQ:SOTK) last announced its quarterly earnings data on Tuesday, October 14th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $5.16 million during the quarter, compared to analyst estimates of $5.25 million. Sono-Tek had a return on equity of 8.38% and a net margin of 7.33%.During the same period last year, the company earned $0.02 earnings per share. On average, sell-side analysts anticipate that Sono-Tek will post 0.07 earnings per share for the current year.

Insider Buying and Selling at Sono-Tek

In other Sono-Tek news, Director Christopher L. Coccio sold 12,320 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $4.78, for a total value of $58,889.60. Following the sale, the director owned 309,447 shares of the company’s stock, valued at $1,479,156.66. This trade represents a 3.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Sono-Tek

A hedge fund recently raised its stake in Sono-Tek stock. Susquehanna International Group LLP increased its holdings in shares of Sono-Tek Corporation (NASDAQ:SOTK) by 28.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,410 shares of the industrial products company’s stock after acquiring an additional 3,389 shares during the period. Susquehanna International Group LLP owned about 0.10% of Sono-Tek worth $69,000 at the end of the most recent reporting period. Hedge funds and other 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.