Sono-Tek (NASDAQ:SOTK) Stock Passes Below 200 Day Moving Average - Should You Sell?

Key Points

• Sono-Tek shares fell below their 200-day moving average of $3.66, trading as low as $3.65 before closing at $3.78 with a volume of 39,482 shares.
• Research analysts have adjusted their ratings for Sono-Tek, with Northland Capital Markets downgrading the stock from "strong-buy" to "hold", maintaining a consensus price target of $7.50.
• The company reported earnings of $0.03 EPS for the last quarter, exceeding estimates, but its revenue of $5.12 million fell short of expectations of $5.24 million.

Sono-Tek Corporation (NASDAQ:SOTK - Get Free Report) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.66 and traded as low as $3.65. Sono-Tek shares last traded at $3.78, with a volume of 39,482 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Northland Capmk lowered Sono-Tek from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 29th. Northland Securities reissued 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, Sono-Tek presently has a consensus rating of "Hold" and an average target price of $7.50.

Sono-Tek Trading Up 2.0%

The stock has a market cap of $65.59 million, a P/E ratio of 46.34 and a beta of -0.25. The business's fifty day simple moving average is $3.52 and its 200 day simple moving average is $3.67.

Sono-Tek (NASDAQ:SOTK - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The industrial products company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $5.12 million during 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 EPS. On average, analysts predict that Sono-Tek Corporation will post 0.07 earnings per share 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% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,081 shares of the industrial products company's stock after buying an additional 15,212 shares during the quarter. Northern Trust Corp owned about 0.26% of Sono-Tek worth $165,000 at the end of the most recent reporting period. 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.