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

Sono-Tek Corporation (NASDAQ:SOTK) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 37,185 shares, a decline of 42.6% from the September 15th total of 64,730 shares. Based on an average daily trading volume, of 122,169 shares, the short-interest ratio is presently 0.3 days. Approximately 0.3% of the shares of the stock are short sold.

Insider Activity at Sono-Tek

In other Sono-Tek news, CFO Stephen Bagley sold 8,346 shares of Sono-Tek stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $5.13, for a total transaction of $42,814.98. Following the sale, the chief financial officer owned 21,254 shares of the company’s stock, valued at $109,033.02. The trade was a 28.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 13,000 shares of company stock worth $67,666 in the last three months. 5.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sono-Tek

A number of large investors have recently modified their holdings of SOTK. Northwestern Mutual Wealth Management Co. acquired a new stake in Sono-Tek during the second quarter worth approximately $73,000. Bard Associates Inc. acquired a new position in Sono-Tek in the second quarter valued at $349,000. BlackRock Inc. acquired a new position in Sono-Tek in the second quarter valued at $179,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Sono-Tek by 41.6% during the first quarter. Renaissance Technologies LLC now owns 89,100 shares of the industrial products company’s stock worth $362,000 after purchasing an additional 26,161 shares during the last quarter. 47.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings upgraded Sono-Tek from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Wall Street Zen upgraded Sono-Tek to a “strong-buy” rating in a report on Sunday, July 12th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Sono-Tek currently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Sono-Tek Trading Up 0.8%

Sono-Tek stock traded up $0.05 during mid-day trading on Friday, hitting $6.16. The company’s stock had a trading volume of 151,796 shares, compared to its average volume of 50,123. The stock’s fifty day moving average is $5.35 and its two-hundred day moving average is $5.11. The firm has a market capitalization of $96.82 million, a PE ratio of 51.33 and a beta of 0.07. Sono-Tek has a 1 year low of $3.40 and a 1 year high of $7.48.

Sono-Tek (NASDAQ:SOTK) last released its quarterly earnings results on Wednesday, October 14th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $5.23 million during the quarter, compared to analysts’ expectations of $5.54 million. Sono-Tek had a net margin of 9.32% and a return on equity of 10.10%. On average, equities analysts expect that Sono-Tek will post 0.10 EPS for the current fiscal year.

Sono-Tek Company Profile

Sono-Tek Corporation develops and manufactures ultrasonic coating and precision liquid-deposition systems. Its technology uses high-frequency sound waves to atomize liquids into a controlled spray, enabling uniform application of coatings, adhesives, lubricants, and other materials while minimizing overspray and material waste.

The company’s products include ultrasonic spray nozzles, integrated coating systems, and customized solutions designed for automated manufacturing processes. Sono-Tek also provides application development, process optimization, installation, training, and technical support to help customers integrate its equipment into production lines.

Sono-Tek’s systems are used across a range of industries, including medical devices, electronics, semiconductor and advanced technology manufacturing, alternative energy, glass, textiles, and other industrial applications.