Short Interest in Sono-Tek Co. (NASDAQ:SOTK) Expands By 33.3%

Sono-Tek Co. (NASDAQ:SOTK) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 11,600 shares, an increase of 33.3% from the October 15th total of 8,700 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 10,100 shares, the short-interest ratio is currently 1.1 days.

Analysts Set New Price Targets

Separately, Northland Securities restated an “outperform” rating and issued a $10.00 price target on shares of Sono-Tek in a report on Wednesday, October 16th.

Institutional Investors Weigh In On Sono-Tek

A hedge fund recently raised its stake in Sono-Tek stock. Bard Associates Inc. raised its holdings in Sono-Tek Co. (NASDAQ:SOTK) by 29.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,425 shares of the industrial products company’s stock after purchasing an additional 12,220 shares during the quarter. Bard Associates Inc. owned 0.34% of Sono-Tek worth $215,000 at the end of the most recent reporting period. Institutional investors own 47.89% of the company’s stock.

Sono-Tek Stock Performance

Sono-Tek stock traded up $0.02 during mid-day trading on Friday, reaching $4.47. 5,664 shares of the company were exchanged, compared to its average volume of 10,985. Sono-Tek has a 12-month low of $3.50 and a 12-month high of $6.12. The business has a fifty day moving average of $4.25 and a 200 day moving average of $4.24. The firm has a market cap of $70.39 million, a P/E ratio of 49.66 and a beta of -0.28.

Sono-Tek (NASDAQ:SOTK) last issued its quarterly earnings data on Tuesday, October 15th. The industrial products company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $5.16 million for the quarter, compared to the consensus estimate of $5.23 million. Sono-Tek had a return on equity of 9.20% and a net margin of 7.36%. During the same quarter last year, the company earned $0.03 earnings per share. Sell-side analysts predict that Sono-Tek will post 0.07 EPS for the current year.

About Sono-Tek

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.