Sono-Tek Corporation (NASDAQ:SOTK) Short Interest Up 129.0% in July

Sono-Tek Corporation (NASDAQ:SOTK) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 24,424 shares, an increase of 129.0% from the June 30th total of 10,665 shares. Based on an average trading volume of 59,893 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the shares of the company are sold short.

Analysts Set New Price Targets

SOTK has been the subject of several analyst reports. Wall Street Zen upgraded shares of Sono-Tek to a “strong-buy” rating in a research note on Sunday, July 12th. Weiss Ratings raised shares of Sono-Tek from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 25th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Sono-Tek Price Performance

SOTK stock traded up $0.06 during midday trading on Thursday, reaching $5.17. The company had a trading volume of 3,795 shares, compared to its average volume of 35,474. The company has a market capitalization of $81.27 million, a price-to-earnings ratio of 39.77 and a beta of -0.05. The stock has a 50 day moving average price of $5.30 and a 200-day moving average price of $4.63. Sono-Tek has a 1-year low of $3.23 and a 1-year high of $6.24.

Sono-Tek (NASDAQ:SOTK) last posted its quarterly earnings data on Wednesday, July 8th. The industrial products company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Sono-Tek had a net margin of 9.62% and a return on equity of 10.55%. The business had revenue of $5.66 million during the quarter, compared to analysts’ expectations of $5.60 million. During the same quarter in the prior year, the business posted $0.03 earnings per share. As a group, research analysts anticipate that Sono-Tek will post 0.11 earnings per share for the current year.

Institutional Trading of Sono-Tek

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Sono-Tek by 29.8% in the third quarter. Dimensional Fund Advisors LP now owns 18,773 shares of the industrial products company’s stock valued at $84,000 after acquiring an additional 4,305 shares during the last quarter. Susquehanna International Group LLP boosted its holdings in shares of Sono-Tek by 28.2% in the 3rd quarter. Susquehanna International Group LLP now owns 15,410 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 3,389 shares in the last quarter. HM Payson & Co. acquired a new stake in shares of Sono-Tek in the 4th quarter valued at $89,000. Renaissance Technologies LLC increased its stake in shares of Sono-Tek by 62.6% in the 4th quarter. Renaissance Technologies LLC now owns 62,939 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 24,239 shares during the last quarter. Finally, Bard Associates Inc. increased its stake in shares of Sono-Tek by 7.0% in the 4th quarter. Bard Associates Inc. now owns 43,244 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 2,838 shares during the last quarter. Institutional investors and hedge funds own 47.89% of the company’s stock.

Sono-Tek Company Profile

Sono-Tek Corporation is a specialized equipment manufacturer that designs, develops and sells ultrasonic spray coating systems for precision fluid delivery. The company’s core technology uses high-frequency ultrasonic vibrations to generate fine, uniform droplets that can be applied to a broad range of substrates with minimal waste and high accuracy. This method enables precise control over coating thickness, distribution and material usage, making it well suited to applications requiring micro-scale deposition and tight process tolerances.

The company’s product portfolio includes bench-top research and development stations, pilot-scale units and full production systems.