Sono-Tek Corporation (NASDAQ:SOTK – Get Free Report) saw a large decline in short interest during the month of October. As of October 30th, there was short interest totaling 11,382 shares, a decline of 82.8% from the October 15th total of 66,018 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 125,869 shares, the short-interest ratio is currently 0.1 days.
Sono-Tek Stock Performance
Shares of NASDAQ SOTK traded down $0.11 during midday trading on Friday, hitting $4.22. The company’s stock had a trading volume of 2,118 shares, compared to its average volume of 54,941. Sono-Tek has a 1-year low of $3.40 and a 1-year high of $7.48. The firm’s fifty day moving average price is $5.24 and its 200-day moving average price is $4.88. The firm has a market cap of $66.48 million, a P/E ratio of 35.18 and a beta of -0.10.
Sono-Tek (NASDAQ:SOTK – Get Free Report) last announced its quarterly earnings data on Wednesday, October 14th. The industrial products company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Sono-Tek had a net margin of 9.32% and a return on equity of 9.95%. The business had revenue of $5.23 million for the quarter, compared to the consensus estimate of $5.54 million. As a group, research analysts predict that Sono-Tek will post 0.08 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Sono-Tek
Institutional investors have recently made changes to their positions in the stock. Bard Associates Inc. acquired a new position in Sono-Tek during the 2nd quarter valued at approximately $349,000. BlackRock Inc. acquired a new stake in Sono-Tek in the second quarter worth $179,000. Renaissance Technologies LLC increased its position 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 buying an additional 26,161 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Sono-Tek in the second quarter worth $73,000. 47.89% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Northland Securities upgraded Sono-Tek from a “market perform” rating to an “outperform” rating and set a $7.00 price target for the company in a report on Monday, October 26th. Weiss Ratings lowered Sono-Tek from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, November 4th. Finally, Wall Street Zen cut Sono-Tek from a “strong-buy” rating to a “hold” rating in a research note on Saturday, October 17th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.75.
Get Our Latest Research Report on SOTK
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.
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