Short Interest in Sono-Tek Corporation (NASDAQ:SOTK) Rises By 60.2%

Sono-Tek Corporation (NASDAQ:SOTK) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 19,700 shares, an increase of 60.2% from the September 15th total of 12,300 shares. Based on an average trading volume of 16,400 shares, the short-interest ratio is currently 1.2 days. Approximately 0.2% of the company’s stock are sold short. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 16,400 shares, the short-interest ratio is currently 1.2 days.

Sono-Tek Stock Performance

Shares of SOTK stock opened at $4.62 on Wednesday. Sono-Tek has a fifty-two week low of $3.23 and a fifty-two week high of $6.05. The stock has a 50 day moving average price of $3.92 and a two-hundred day moving average price of $3.77. The company has a market capitalization of $72.58 million, a P/E ratio of 46.20 and a beta of -0.21.

Sono-Tek (NASDAQ:SOTK) last announced its quarterly earnings data on Tuesday, October 14th. The industrial products company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Sono-Tek had a return on equity of 8.38% and a net margin of 7.33%.The firm had revenue of $5.16 million during the quarter, compared to the consensus estimate of $5.25 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. As a group, equities analysts predict that Sono-Tek will post 0.07 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Sono-Tek in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Sono-Tek from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sono-Tek currently has an average rating of “Hold” and a consensus target price of $7.50.

Sono-Tek Company Profile

Sono-Tek Corporation designs and manufactures ultrasonic coating systems for applying on parts and components for the microelectronics/electronics, alternative energy, medical, industrial, and research and development/other markets worldwide. The company also designs and manufactures custom-engineered ultrasonic coating systems; and provides nozzles and generators for manufacturers' equipment.