Sono-Tek (NASDAQ:SOTK) Share Price Passes Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Sono-Tek Corporation's stock has recently dropped below its 200-day moving average of $3.75, trading as low as $3.29, indicating potential challenges in its price performance.
• Analysts have revised their ratings, with Northland Capital Markets downgrading Sono-Tek from a "strong-buy" to a "hold" as of late May.
• The company reported a quarterly earnings per share of $0.03, slightly beating expectations, but generated revenue below analysts' consensus estimates.

Sono-Tek Corporation (NASDAQ:SOTK - Get Free Report)'s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.75 and traded as low as $3.29. Sono-Tek shares last traded at $3.33, with a volume of 4,802 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on SOTK shares. Northland Securities reissued a "market perform" rating on shares of Sono-Tek in a research report on Thursday, May 29th. Northland Capmk downgraded Sono-Tek from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 29th.

Sono-Tek Trading Up 1.7%

The stock has a market cap of $52.30 million, a price-to-earnings ratio of 36.95 and a beta of -0.12. The stock's 50 day moving average is $3.64 and its two-hundred day moving average is $3.74.

Sono-Tek (NASDAQ:SOTK - Get Free Report) last announced its earnings results on Thursday, July 10th. The industrial products company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Sono-Tek had a net margin of 6.93% and a return on equity of 8.10%. The business had revenue of $5,121 billion during the quarter, compared to analysts' expectations of $5.24 million. During the same period in the prior year, the company earned $0.02 earnings per share. On average, sell-side analysts predict that Sono-Tek Corporation will post 0.07 EPS for the current year.

Institutional Trading of Sono-Tek

A hedge fund recently raised its stake in Sono-Tek stock. Northern Trust Corp increased its stake in shares of Sono-Tek Corporation (NASDAQ:SOTK - Free Report) by 58.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,081 shares of the industrial products company's stock after purchasing an additional 15,212 shares during the quarter. Northern Trust Corp owned 0.26% of Sono-Tek worth $165,000 as of its most recent SEC filing. 47.89% of the stock is 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.