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

Sono-Tek Corporation (NASDAQ:SOTK - Get Free Report) saw a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 3,600 shares, a decrease of 41.9% from the May 15th total of 6,200 shares. Approximately 0.0% of the company's stock are short sold. Based on an average daily trading volume, of 7,700 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Ratings Changes

SOTK has been the subject of several research analyst reports. Northland Securities reiterated a "market perform" rating on shares of Sono-Tek in a research note on Thursday, May 29th. Northland Capmk cut Sono-Tek from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 29th.

Sono-Tek Price Performance

SOTK traded up $0.03 during trading hours on Thursday, hitting $3.78. 2,058 shares of the stock were exchanged, compared to its average volume of 11,717. The stock has a 50-day simple moving average of $3.82 and a 200-day simple moving average of $3.91. Sono-Tek has a 12 month low of $3.50 and a 12 month high of $6.05. The stock has a market cap of $59.46 million, a price-to-earnings ratio of 47.26 and a beta of -0.05.

Sono-Tek (NASDAQ:SOTK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.07. Sono-Tek had a return on equity of 7.40% and a net margin of 6.21%. The firm had revenue of $5.12 million for the quarter, compared to analysts' expectations of $5.12 million. During the same period last year, the business posted $0.01 earnings per share. Sell-side analysts expect that Sono-Tek will post 0.07 EPS for the current year.

Hedge Funds Weigh In On Sono-Tek

Several large investors have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in Sono-Tek by 58.8% during the fourth quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company's stock worth $165,000 after purchasing an additional 15,212 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Sono-Tek during the fourth quarter worth $3,101,000. Finally, Bard Associates Inc. increased its position in Sono-Tek by 5.6% in the fourth 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 during the period. 47.89% of the stock is currently owned by 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.