Sono-Tek Corporation (NASDAQ:SOTK) Stock Short Interest Report for October

Sono-Tek Corporation (NASDAQ:SOTK) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 66,018 shares, a growth of 77.5% from the September 30th total of 37,185 shares. Based on an average trading volume of 184,691 shares, the short-interest ratio is presently 0.4 days. Currently, 0.4% of the shares of the stock are short sold.

Sono-Tek Trading Up 2.0%

Shares of SOTK stock traded up $0.10 during trading hours on Tuesday, hitting $4.87. 28,142 shares of the company’s stock were exchanged, compared to its average volume of 54,057. Sono-Tek has a 12-month low of $3.40 and a 12-month high of $7.48. The business’s 50 day simple moving average is $5.36 and its 200-day simple moving average is $4.87. The company has a market capitalization of $76.62 million, a PE ratio of 40.54 and a beta of 0.07.

Sono-Tek (NASDAQ:SOTK) last posted its quarterly earnings results on Wednesday, October 14th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Sono-Tek had a return on equity of 9.95% and a net margin of 9.32%. The company had revenue of $5.23 million for the quarter, compared to the consensus estimate of $5.54 million. Equities analysts anticipate that Sono-Tek will post 0.08 EPS for the current year.

Institutional Trading of Sono-Tek

Several institutional investors have recently bought and sold shares of SOTK. Northwestern Mutual Wealth Management Co. bought a new stake in Sono-Tek during the second quarter valued at about $73,000. BlackRock Inc. purchased a new stake in Sono-Tek in the second quarter worth $179,000. Bard Associates Inc. bought a new position in Sono-Tek in the 2nd quarter worth about $349,000. Finally, Renaissance Technologies LLC grew its stake in Sono-Tek by 41.6% in 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 in the last quarter. 47.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on SOTK shares. Northland Securities upgraded shares of Sono-Tek from a “market perform” rating to an “outperform” rating and set a $7.00 target price on the stock in a research report on Monday, October 26th. Weiss Ratings downgraded shares of Sono-Tek from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Finally, Wall Street Zen lowered shares of Sono-Tek from a “strong-buy” rating to a “hold” rating in a research note on Saturday, October 17th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Sono-Tek Company Profile

Sono-Tek Corporation is a precision technology company that designs and manufactures ultrasonic coating and spraying systems. Its equipment uses high-frequency ultrasonic energy to atomize liquids into controlled, uniform sprays, enabling manufacturers to apply thin films, coatings and other materials with minimal overspray and waste.

The company offers ultrasonic spray nozzles, integrated coating systems, precision liquid-dispensing equipment and automated or robotic platforms. Its technologies are used in applications including medical devices, electronics, fuel cells, solar and alternative-energy products, glass and other industrial components.