Sono-Tek Corporation (NASDAQ:SOTK) Stock Short Interest Report for October

Sono-Tek Corporation (NASDAQ:SOTK) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 66,018 shares, an increase of 77.5% from the September 30th total of 37,185 shares. Based on an average daily trading volume, of 184,691 shares, the short-interest ratio is presently 0.4 days. Approximately 0.4% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SOTK. Weiss Ratings lowered shares of Sono-Tek from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Wall Street Zen cut shares of Sono-Tek from a “strong-buy” rating to a “hold” rating in a report on Saturday, October 17th. Finally, Northland Securities raised shares of Sono-Tek from a “market perform” rating to an “outperform” rating and set a $7.00 price objective for the company in a research report on Monday, October 26th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Hedge Funds Weigh In On Sono-Tek

A number of institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Sono-Tek during the second quarter worth approximately $73,000. Renaissance Technologies LLC increased its holdings in Sono-Tek by 41.6% in the 1st quarter. Renaissance Technologies LLC now owns 89,100 shares of the industrial products company’s stock valued at $362,000 after purchasing an additional 26,161 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Sono-Tek in the 2nd quarter worth about $179,000. Finally, Bard Associates Inc. acquired a new stake in Sono-Tek in the second quarter worth $349,000. 47.89% of the stock is owned by hedge funds and other institutional investors.

Sono-Tek Trading Down 0.8%

Sono-Tek stock traded down $0.04 during trading hours on Monday, hitting $4.77. 102,247 shares of the stock traded hands, compared to its average volume of 54,178. Sono-Tek has a one year low of $3.40 and a one year high of $7.48. The company has a market cap of $75.13 million, a PE ratio of 39.75 and a beta of -0.10. The firm’s 50-day moving average price is $5.37 and its two-hundred day moving average price is $4.87.

Sono-Tek (NASDAQ:SOTK) last posted its earnings results on Wednesday, October 14th. The industrial products company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $5.23 million during the quarter, compared to the consensus estimate of $5.54 million. Sono-Tek had a return on equity of 9.95% and a net margin of 9.32%. On average, sell-side analysts expect that Sono-Tek will post 0.08 earnings per share for the current fiscal year.

About Sono-Tek

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.