Sono-Tek (NASDAQ:SOTK) Downgraded by Zacks Research to “Hold”

Sono-Tek (NASDAQ:SOTK) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Sono-Tek in a research note on Monday. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.50.

Sono-Tek Price Performance

Sono-Tek stock opened at $3.70 on Monday. The firm’s fifty day moving average price is $4.17 and its 200 day moving average price is $3.86. The company has a market capitalization of $58.13 million, a price-to-earnings ratio of 37.00 and a beta of -0.27. Sono-Tek has a 12-month low of $3.23 and a 12-month high of $6.05.

Sono-Tek (NASDAQ:SOTK) last released its quarterly earnings results on Tuesday, October 14th. The industrial products company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Sono-Tek had a return on equity of 8.38% and a net margin of 7.33%.The business had revenue of $5.16 million for the quarter, compared to analysts’ expectations of $5.25 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Analysts forecast that Sono-Tek will post 0.07 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Christopher L. Coccio sold 12,320 shares of Sono-Tek stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $4.78, for a total value of $58,889.60. Following the completion of the transaction, the director directly owned 309,447 shares of the company’s stock, valued at approximately $1,479,156.66. The trade was a 3.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.50% of the company’s stock.

Institutional Trading of Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Susquehanna International Group LLP grew its position in shares of Sono-Tek Corporation (NASDAQ:SOTK) by 28.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,410 shares of the industrial products company’s stock after acquiring an additional 3,389 shares during the quarter. Susquehanna International Group LLP owned about 0.10% of Sono-Tek worth $69,000 as of its most recent filing with the SEC. 47.89% of the stock is currently owned by hedge funds and other institutional investors.

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.