Sono-Tek (NASDAQ:SOTK) Share Price Crosses Below Two Hundred Day Moving Average After Analyst Downgrade

Sono-Tek Corporation (NASDAQ:SOTK) shares passed below its 200-day moving average during trading on Monday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock has a 200-day moving average of $3.86 and traded as low as $3.60. Sono-Tek shares last traded at $3.60, with a volume of 34,092 shares traded.

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

Insider Transactions at Sono-Tek

In other Sono-Tek news, Director Christopher L. Coccio sold 12,320 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $4.78, for a total transaction of $58,889.60. Following the sale, the director owned 309,447 shares of the company’s stock, valued at approximately $1,479,156.66. This trade represents a 3.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Sono-Tek

A hedge fund recently raised its stake in Sono-Tek stock. Susquehanna International Group LLP grew its position in shares of Sono-Tek Corporation (NASDAQ:SOTK) by 28.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,410 shares of the industrial products company’s stock after acquiring an additional 3,389 shares during the quarter. Susquehanna International Group LLP owned about 0.10% of Sono-Tek worth $69,000 at the end of the most recent quarter. Institutional investors and hedge funds own 47.89% of the company’s stock.

Sono-Tek Stock Performance

The company’s fifty day moving average is $4.15 and its two-hundred day moving average is $3.86. The firm has a market cap of $58.27 million, a price-to-earnings ratio of 37.10 and a beta of -0.27.

Sono-Tek (NASDAQ:SOTK) last issued its earnings results on Tuesday, October 14th. The industrial products company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $5.16 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.02 earnings per share. As a group, analysts forecast that Sono-Tek Corporation will post 0.07 earnings per share for the current fiscal year.

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.