Sono-Tek Corporation (NASDAQ:SOTK) Sees Large Growth in Short Interest

Sono-Tek Corporation (NASDAQ:SOTK) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 8,772 shares, a growth of 93.3% from the April 30th total of 4,539 shares. Based on an average daily volume of 26,680 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Trading of Sono-Tek

Several large investors have recently modified their holdings of the stock. Susquehanna International Group LLP increased its position in shares of Sono-Tek by 28.2% in the third quarter. Susquehanna International Group LLP now owns 15,410 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 3,389 shares during the period. Dimensional Fund Advisors LP grew its stake in Sono-Tek by 29.8% during the third quarter. Dimensional Fund Advisors LP now owns 18,773 shares of the industrial products company’s stock worth $84,000 after buying an additional 4,305 shares in the last quarter. HM Payson & Co. acquired a new stake in Sono-Tek during the fourth quarter worth about $89,000. Bard Associates Inc. increased its holdings in Sono-Tek by 7.0% in the 4th quarter. Bard Associates Inc. now owns 43,244 shares of the industrial products company’s stock valued at $179,000 after buying an additional 2,838 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Sono-Tek by 62.6% in the 4th quarter. Renaissance Technologies LLC now owns 62,939 shares of the industrial products company’s stock valued at $260,000 after buying an additional 24,239 shares during the period. 47.89% of the stock is owned by institutional investors and hedge funds.

Sono-Tek Stock Performance

NASDAQ:SOTK traded down $0.08 during mid-day trading on Wednesday, reaching $5.11. 10,021 shares of the company’s stock were exchanged, compared to its average volume of 31,299. Sono-Tek has a one year low of $3.23 and a one year high of $5.70. The business’s fifty day simple moving average is $4.53 and its two-hundred day simple moving average is $4.22. The firm has a market capitalization of $80.28 million, a PE ratio of 46.46 and a beta of -0.03.

Sono-Tek (NASDAQ:SOTK) last released its quarterly earnings results on Thursday, May 28th. The industrial products company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $5.61 million during the quarter, compared to the consensus estimate of $5.59 million. Sono-Tek had a net margin of 8.64% and a return on equity of 9.52%. As a group, equities research analysts forecast that Sono-Tek will post 0.11 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SOTK. Truist Financial set a $8.50 price objective on shares of Sono-Tek in a research report on Friday, March 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sono-Tek in a research note on Friday, March 27th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.50.

Sono-Tek Company Profile

Sono-Tek Corporation is a specialized equipment manufacturer that designs, develops and sells ultrasonic spray coating systems for precision fluid delivery. The company’s core technology uses high-frequency ultrasonic vibrations to generate fine, uniform droplets that can be applied to a broad range of substrates with minimal waste and high accuracy. This method enables precise control over coating thickness, distribution and material usage, making it well suited to applications requiring micro-scale deposition and tight process tolerances.

The company’s product portfolio includes bench-top research and development stations, pilot-scale units and full production systems.