Sono-Tek Co. (NASDAQ:SOTK - Get Free Report) saw a large decline in short interest in May. As of May 15th, there was short interest totalling 6,200 shares, a decline of 45.6% from the April 30th total of 11,400 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 7,500 shares, the short-interest ratio is presently 0.8 days.
Hedge Funds Weigh In On Sono-Tek
Institutional investors have recently modified their holdings of the stock. Northern Trust Corp grew its stake in shares of Sono-Tek by 58.8% during the fourth quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company's stock valued at $165,000 after purchasing an additional 15,212 shares during the last quarter. Bard Associates Inc. lifted its holdings in Sono-Tek by 5.6% during the 4th quarter. Bard Associates Inc. now owns 56,431 shares of the industrial products company's stock worth $226,000 after buying an additional 3,006 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new position in Sono-Tek in the 4th quarter valued at $3,101,000. 47.89% of the stock is owned by institutional investors.
Sono-Tek Stock Up 1.8%
SOTK stock traded up $0.07 during midday trading on Friday, reaching $3.86. 6,534 shares of the company's stock traded hands, compared to its average volume of 11,794. The company has a 50-day simple moving average of $3.78 and a two-hundred day simple moving average of $3.98. Sono-Tek has a 1-year low of $3.50 and a 1-year high of $6.05. The company has a market cap of $60.80 million, a price-to-earnings ratio of 55.14 and a beta of -0.02.
Sono-Tek (NASDAQ:SOTK - Get Free Report) last announced its earnings results on Wednesday, May 28th. The industrial products company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.07. The company had revenue of $5.12 million during the quarter, compared to analyst estimates of $5.12 million. Sono-Tek had a return on equity of 6.55% and a net margin of 5.47%. During the same period last year, the company posted $0.01 earnings per share. Equities research analysts forecast that Sono-Tek will post 0.07 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. Northland Capmk cut shares of Sono-Tek from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Northland Securities reaffirmed a "market perform" rating on shares of Sono-Tek in a research note on Thursday.
View Our Latest Analysis on Sono-Tek
Sono-Tek Company Profile
(
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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.
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