Sono-Tek Corporation (NASDAQ:SOTK) Sees Significant Growth in Short Interest

Key Points

• Short interest in Sono-Tek Corporation increased by 129.6% in July, with a total of 6,200 shares shorted as of July 31st.
• Northern Trust Corp raised its stake in Sono-Tek by 58.8%, now owning approximately 0.26% of the company valued at $165,000.
• Sono-Tek's latest earnings report showed a profit of $0.03 per share, beating expectations of $0.02, with total revenue for the quarter at $5.121 million.

Sono-Tek Corporation (NASDAQ:SOTK - Get Free Report) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 6,200 shares, agrowthof129.6% from the July 15th total of 2,700 shares. Currently,0.1% of the shares of the stock are sold short. Based on an average daily volume of 6,900 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 6,900 shares, the days-to-cover ratio is currently 0.9 days. Currently,0.1% of the shares of the stock are sold short.

Sono-Tek Stock Up 2.9%

Shares of Sono-Tek stock traded up $0.0950 on Friday, hitting $3.3450. The stock had a trading volume of 1,567 shares, compared to its average volume of 7,591. Sono-Tek has a one year low of $3.23 and a one year high of $6.05. The stock has a market cap of $52.62 million, a price-to-earnings ratio of 37.17 and a beta of -0.12. The stock's 50-day simple moving average is $3.52 and its two-hundred day simple moving average is $3.68.

Sono-Tek (NASDAQ:SOTK - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The industrial products company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $5,121 billion for the quarter, compared to analysts' expectations of $5.24 million. Sono-Tek had a net margin of 6.93% and a return on equity of 8.10%. During the same quarter in the previous year, the business posted $0.02 earnings per share. As a group, equities analysts predict that Sono-Tek will post 0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Northern Trust Corp raised its stake in shares of Sono-Tek Corporation (NASDAQ:SOTK - Free Report) by 58.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 41,081 shares of the industrial products company's stock after acquiring an additional 15,212 shares during the period. Northern Trust Corp owned approximately 0.26% of Sono-Tek worth $165,000 as of its most recent SEC filing. Institutional investors own 47.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented 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, May 29th. Northland Securities reiterated a "market perform" rating on shares of Sono-Tek in a research report on Thursday, May 29th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.50.

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.