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

Sono-Tek Corporation (NASDAQ:SOTK) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 10,512 shares, a drop of 49.7% from the July 30th total of 20,889 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 40,006 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SOTK shares. Weiss Ratings upgraded Sono-Tek from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 25th. Wall Street Zen raised shares of Sono-Tek to a “strong-buy” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Sono-Tek Stock Down 2.8%

SOTK opened at $4.89 on Friday. The stock has a market capitalization of $76.87 million, a price-to-earnings ratio of 37.62 and a beta of -0.03. Sono-Tek has a twelve month low of $3.35 and a twelve month high of $6.24. The company has a 50-day simple moving average of $5.31 and a 200 day simple moving average of $4.79.

Sono-Tek (NASDAQ:SOTK) last released its earnings results on Wednesday, July 8th. The industrial products company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. Sono-Tek had a net margin of 9.62% and a return on equity of 10.55%. The firm had revenue of $5.66 million for the quarter, compared to analyst estimates of $5.60 million. During the same period last year, the firm earned $0.03 EPS. Sell-side analysts anticipate that Sono-Tek will post 0.11 EPS for the current fiscal year.

Insider Activity

In other news, CFO Stephen James Bagley sold 8,346 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $5.13, for a total transaction of $42,814.98. Following the completion of the sale, the chief financial officer owned 21,254 shares in the company, valued at $109,033.02. The trade was a 28.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 13,000 shares of company stock worth $67,666 in the last three months. Insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Sono-Tek

A number of institutional investors have recently modified their holdings of the business. Susquehanna International Group LLP lifted its position in shares of Sono-Tek by 28.2% during the 3rd quarter. Susquehanna International Group LLP now owns 15,410 shares of the industrial products company’s stock worth $69,000 after buying an additional 3,389 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Sono-Tek during the second quarter worth about $73,000. Dimensional Fund Advisors LP raised 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 acquiring an additional 4,305 shares in the last quarter. HM Payson & Co. bought a new position in shares of Sono-Tek in the fourth quarter worth about $89,000. Finally, Bard Associates Inc. lifted its holdings in shares of Sono-Tek by 7.0% in the fourth quarter. Bard Associates Inc. now owns 43,244 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 2,838 shares during the last quarter. Institutional investors and hedge funds own 47.89% of the company’s stock.

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.