Sono-Tek Co. (NASDAQ:SOTK) Sees Significant Increase in Short Interest

Sono-Tek Co. (NASDAQ:SOTK) saw a significant 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. Based on an average daily trading volume, of 10,100 shares, the short-interest ratio is currently 1.1 days. Approximately 0.1% of the company’s stock are sold short.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Bard Associates Inc. boosted its holdings in Sono-Tek Co. (NASDAQ:SOTK) by 29.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 about 0.34% of Sono-Tek worth $215,000 at the end of the most recent quarter. 47.89% of the stock is owned by institutional investors.

Sono-Tek Trading Up 0.5 %

NASDAQ:SOTK traded up $0.02 during midday trading on Friday, hitting $4.47. 5,664 shares of the company were exchanged, compared to its average volume of 10,985. Sono-Tek has a fifty-two week low of $3.50 and a fifty-two week high of $6.12. The company has a market capitalization of $70.39 million, a PE ratio of 49.66 and a beta of -0.28. The company has a fifty day simple moving average of $4.25 and a 200 day simple moving average of $4.24.

Sono-Tek (NASDAQ:SOTK) last posted its earnings results on Tuesday, October 15th. The industrial products company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $5.16 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm earned $0.03 earnings per share. As a group, equities research analysts expect that Sono-Tek will post 0.07 EPS for the current year.

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.