Short Interest in Sono-Tek Co. (NASDAQ:SOTK) Drops By 39.2%

Sono-Tek Co. (NASDAQ:SOTK) was the target of a large decrease in short interest in February. As of February 15th, there was short interest totalling 10,100 shares, a decrease of 39.2% from the January 31st total of 16,600 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 16,200 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Sono-Tek by 11.5% during the third quarter. Geode Capital Management LLC now owns 125,355 shares of the industrial products company’s stock valued at $505,000 after purchasing an additional 12,900 shares in the last quarter. Bard Associates Inc. increased its position in shares of Sono-Tek by 29.7% during the 3rd quarter. Bard Associates Inc. now owns 53,425 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 12,220 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Sono-Tek by 58.8% during the 4th quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company’s stock valued at $165,000 after buying an additional 15,212 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in Sono-Tek in the 4th quarter worth approximately $3,101,000. 47.89% of the stock is currently owned by hedge funds and other institutional investors.

Sono-Tek Price Performance

Shares of NASDAQ:SOTK traded down $0.02 on Monday, hitting $3.68. The company’s stock had a trading volume of 2,703 shares, compared to its average volume of 9,455. Sono-Tek has a 1 year low of $3.50 and a 1 year high of $6.05. The company has a market capitalization of $57.96 million, a PE ratio of 52.57 and a beta of -0.20. The company has a 50-day simple moving average of $3.95 and a 200 day simple moving average of $4.20.

Sono-Tek (NASDAQ:SOTK) last announced its earnings results on Monday, January 13th. The industrial products company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. Sono-Tek had a net margin of 5.47% and a return on equity of 6.55%. On average, equities research analysts expect that Sono-Tek will post 0.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Northland Securities reaffirmed an “outperform” rating and issued a $7.50 price target (down previously from $10.00) on shares of Sono-Tek in a report on Tuesday, January 14th.

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.