Sono-Tek Corporation (NASDAQ:SOTK) Short Interest Down 55.7% in June

Sono-Tek Corporation (NASDAQ:SOTK – Get Free Report) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 4,517 shares, a drop of 55.7% from the May 31st total of 10,186 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 46,437 shares, the short-interest ratio is currently 0.1 days.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Truist Financial set a $8.50 price objective on shares of Sono-Tek in a research note on Friday, March 13th. Weiss Ratings raised Sono-Tek from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

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Institutional Trading of Sono-Tek

A number of institutional investors and hedge funds have recently modified their holdings of SOTK. Dimensional Fund Advisors LP increased its stake in Sono-Tek by 12.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 21,200 shares of the industrial products company’s stock worth $88,000 after buying an additional 2,427 shares in the last quarter. Bard Associates Inc. lifted its stake in Sono-Tek by 7.0% in the 4th quarter. Bard Associates Inc. now owns 43,244 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 2,838 shares in the last quarter. Susquehanna International Group LLP boosted its stake in Sono-Tek by 28.2% during the third 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. HM Payson & Co. purchased a new position in shares of Sono-Tek during the 4th quarter worth $89,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Sono-Tek by 62.6% in the fourth quarter. Renaissance Technologies LLC now owns 62,939 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 24,239 shares during the period. Hedge funds and other institutional investors own 47.89% of the company’s stock.

Sono-Tek Price Performance

NASDAQ:SOTK opened at $5.32 on Monday. The company’s fifty day moving average price is $4.99 and its 200-day moving average price is $4.40. Sono-Tek has a 1-year low of $3.23 and a 1-year high of $5.74. The firm has a market capitalization of $83.58 million, a P/E ratio of 48.37 and a beta of -0.03.

Sono-Tek (NASDAQ:SOTK – Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Sono-Tek had a return on equity of 9.52% and a net margin of 8.64%.The company had revenue of $5.61 million during the quarter, compared to the consensus estimate of $5.59 million. Equities analysts anticipate that Sono-Tek will post 0.11 EPS for the current fiscal year.

About Sono-Tek

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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.

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