Short Interest in Sono-Tek Corporation (NASDAQ:SOTK) Declines By 26.6%

Sono-Tek Corporation (NASDAQ:SOTK) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 4,452 shares, a decrease of 26.6% from the February 26th total of 6,069 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 31,572 shares, the days-to-cover ratio is presently 0.1 days.

Sono-Tek Price Performance

Shares of NASDAQ SOTK traded up $0.06 during mid-day trading on Friday, reaching $4.10. 11,290 shares of the company’s stock were exchanged, compared to its average volume of 30,195. The firm has a 50-day moving average price of $4.13 and a two-hundred day moving average price of $4.15. The firm has a market capitalization of $64.40 million, a price-to-earnings ratio of 41.00 and a beta of -0.32. Sono-Tek has a 52 week low of $3.23 and a 52 week high of $5.15.

Sono-Tek (NASDAQ:SOTK) last posted its quarterly earnings data on Tuesday, January 13th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $5.25 million. Sono-Tek had a return on equity of 8.54% and a net margin of 7.72%. As a group, sell-side analysts forecast that Sono-Tek will post 0.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial set a $8.50 price target on Sono-Tek in a research report on Friday, March 13th. Zacks Research lowered shares of Sono-Tek from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sono-Tek in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Sono-Tek presently has an average rating of “Hold” and an average target price of $8.50.

Institutional Investors Weigh In On Sono-Tek

A number of hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in Sono-Tek by 62.6% during the 4th quarter. Renaissance Technologies LLC now owns 62,939 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 24,239 shares in the last quarter. Bard Associates Inc. grew its holdings in Sono-Tek by 7.0% during the 4th quarter. Bard Associates Inc. now owns 43,244 shares of the industrial products company’s stock valued at $179,000 after buying an additional 2,838 shares in the last quarter. HM Payson & Co. bought a new stake in shares of Sono-Tek during the fourth quarter valued at about $89,000. Dimensional Fund Advisors LP lifted its holdings in shares of Sono-Tek by 12.9% in the fourth 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. Finally, Susquehanna International Group LLP boosted its position in shares of Sono-Tek by 28.2% in the third quarter. Susquehanna International Group LLP now owns 15,410 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 3,389 shares during the period. Institutional investors own 47.89% of the company’s stock.

About Sono-Tek

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.