Short Interest in Sono-Tek Co. (NASDAQ:SOTK) Expands By 185.4%

Sono-Tek Co. (NASDAQ:SOTK) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 13,700 shares, an increase of 185.4% from the December 15th total of 4,800 shares. Based on an average trading volume of 18,000 shares, the short-interest ratio is currently 0.8 days. Currently, 0.1% of the company’s shares are sold short.

Sono-Tek Stock Performance

Shares of Sono-Tek stock traded down $0.04 on Thursday, reaching $3.87. 4,206 shares of the company’s stock were exchanged, compared to its average volume of 17,751. The firm’s 50-day moving average is $4.40 and its two-hundred day moving average is $4.22. The company has a market capitalization of $60.95 million, a P/E ratio of 43.00 and a beta of -0.20. Sono-Tek has a 52 week low of $3.50 and a 52 week high of $6.12.

Sono-Tek (NASDAQ:SOTK) last posted its quarterly earnings results on Monday, January 13th. The industrial products company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. Sono-Tek had a net margin of 7.36% and a return on equity of 9.20%. On average, analysts expect that Sono-Tek will post 0.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Northland Securities restated an “outperform” rating and set a $7.50 target price (down previously from $10.00) on shares of Sono-Tek in a research report on Tuesday.

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 shares of Sono-Tek Co. (NASDAQ:SOTK) by 29.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing. 47.89% of the stock is owned by institutional investors.

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.