Zacks Research Downgrades Sono-Tek (NASDAQ:SOTK) to Hold

Sono-Tek (NASDAQ:SOTK) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Sono-Tek in a research report on Monday. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Sono-Tek presently has an average rating of “Hold” and an average target price of $7.50.

Sono-Tek Price Performance

Shares of NASDAQ:SOTK opened at $3.70 on Monday. The stock has a market cap of $58.13 million, a price-to-earnings ratio of 37.00 and a beta of -0.27. Sono-Tek has a 12 month low of $3.23 and a 12 month high of $6.05. The stock’s 50 day moving average price is $4.17 and its 200 day moving average price is $3.86.

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 business had revenue of $5.16 million during the quarter, compared to analyst estimates of $5.25 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. On average, sell-side analysts expect that Sono-Tek will post 0.07 EPS for the current year.

Insider Activity

In related news, Director Christopher L. Coccio sold 12,320 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $4.78, for a total value of $58,889.60. Following the completion of the sale, the director directly owned 309,447 shares in the company, valued at approximately $1,479,156.66. This represents a 3.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Sono-Tek

A hedge fund recently raised its stake in Sono-Tek stock. Susquehanna International Group LLP grew its position in Sono-Tek Corporation (NASDAQ:SOTK) by 28.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,410 shares of the industrial products company’s stock after purchasing an additional 3,389 shares during the quarter. Susquehanna International Group LLP owned approximately 0.10% of Sono-Tek worth $69,000 as of its most recent SEC filing. Institutional investors and hedge funds own 47.89% of the company’s stock.

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.