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

Sono-Tek Corporation (NASDAQ:SOTK) was the target of a large decline in short interest in June. As of June 15th, there was short interest totaling 4,517 shares, a decline of 55.7% from the May 31st total of 10,186 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 46,437 shares, the days-to-cover ratio is presently 0.1 days.

Sono-Tek Price Performance

SOTK stock traded up $0.78 during midday trading on Tuesday, hitting $6.12. The company’s stock had a trading volume of 139,898 shares, compared to its average volume of 33,025. The company’s fifty day moving average price is $5.02 and its 200 day moving average price is $4.41. Sono-Tek has a twelve month low of $3.23 and a twelve month high of $6.24. The stock has a market capitalization of $96.15 million, a P/E ratio of 55.64 and a beta of -0.03.

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

Institutional Investors Weigh In On Sono-Tek

A number of institutional investors and hedge funds have recently made changes to their positions in SOTK. Susquehanna International Group LLP grew its stake 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 valued at $69,000 after buying an additional 3,389 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Sono-Tek by 29.8% in the third quarter. Dimensional Fund Advisors LP now owns 18,773 shares of the industrial products company’s stock valued at $84,000 after acquiring an additional 4,305 shares during the last quarter. HM Payson & Co. acquired a new stake in Sono-Tek in the fourth quarter valued at $89,000. Bard Associates Inc. grew its position in shares of 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 acquiring an additional 2,838 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Sono-Tek by 62.6% during the 4th quarter. Renaissance Technologies LLC now owns 62,939 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 24,239 shares during the last quarter. Institutional investors own 47.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SOTK. Truist Financial set a $8.50 price objective on Sono-Tek in a research report on Friday, March 13th. Weiss Ratings upgraded Sono-Tek from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.50.

About Sono-Tek

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.