Short Interest in Sono-Tek Corporation (NASDAQ:SOTK) Increases By 129.6%

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 increase in short interest during the month of July. As of July 31st, there was short interest totaling 6,200 shares, anincreaseof129.6% from the July 15th total of 2,700 shares. Currently,0.1% of the shares of the company are sold short. Based on an average daily volume of 6,900 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 6,900 shares, the days-to-cover ratio is presently 0.9 days. Currently,0.1% of the shares of the company are sold short.

Sono-Tek Price Performance

Shares of SOTK traded down $0.05 during midday trading on Thursday, hitting $3.28. 3,335 shares of the company traded hands, compared to its average volume of 7,627. Sono-Tek has a one year low of $3.23 and a one year high of $6.05. The firm has a market cap of $51.59 million, a P/E ratio of 36.46 and a beta of -0.12. The stock has a 50-day moving average of $3.53 and a 200-day moving average of $3.69.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on SOTK. Northland Capmk cut shares of Sono-Tek from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 29th. Northland Securities reissued a "market perform" rating on shares of Sono-Tek in a report on Thursday, May 29th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Sono-Tek presently has an average rating of "Hold" and a consensus price target of $7.50.

Institutional Investors Weigh In On Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Northern Trust Corp grew its stake in Sono-Tek Corporation (NASDAQ:SOTK - Free Report) by 58.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,081 shares of the industrial products company's stock after buying an additional 15,212 shares during the period. Northern Trust Corp owned approximately 0.26% of Sono-Tek worth $165,000 at the end of the most recent reporting period. 47.89% of the stock is currently owned by hedge funds and other institutional investors.

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.