Sono-Tek (NASDAQ:SOTK) Share Price Crosses Below 200-Day Moving Average - Here's Why

Sono-Tek Corporation (NASDAQ:SOTK - Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.65 and traded as low as $3.35. Sono-Tek shares last traded at $3.31, with a volume of 11,038 shares traded.

Analyst Upgrades and Downgrades

SOTK has been the subject of several analyst reports. Northland Capmk lowered Sono-Tek from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 29th. Northland Securities restated a "market perform" rating on shares of Sono-Tek in a report on Thursday, May 29th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Sono-Tek currently has a consensus rating of "Hold" and a consensus price target of $7.50.

Sono-Tek Stock Performance

The company has a market capitalization of $61.66 million, a P/E ratio of 43.56 and a beta of -0.25. The company has a 50-day simple moving average of $3.45 and a 200 day simple moving average of $3.65.

Sono-Tek (NASDAQ:SOTK - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. The business had revenue of $5.12 million for the quarter, compared to analysts' expectations of $5.24 million. Sono-Tek had a return on equity of 8.10% and a net margin of 6.93%.During the same period in the previous year, the business posted $0.02 earnings per share. As a group, sell-side analysts forecast that Sono-Tek Corporation will post 0.07 earnings per share for the current year.

Institutional Trading of Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Northern Trust Corp raised its stake in Sono-Tek Corporation (NASDAQ:SOTK - Free Report) by 58.8% during the fourth quarter, according to 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 acquiring an additional 15,212 shares during the period. Northern Trust Corp owned about 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.

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.