Sono-Tek Co. (NASDAQ:SOTK) Short Interest Up 33.3% in October

Sono-Tek Co. (NASDAQ:SOTK) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 11,600 shares, a growth of 33.3% from the October 15th total of 8,700 shares. Based on an average daily volume of 10,100 shares, the short-interest ratio is presently 1.1 days. Approximately 0.1% of the company’s shares are sold short.

Sono-Tek Stock Up 0.5 %

NASDAQ:SOTK traded up $0.02 on Friday, reaching $4.47. 5,664 shares of the company’s stock were exchanged, compared to its average volume of 10,985. The firm has a market capitalization of $70.39 million, a price-to-earnings ratio of 49.66 and a beta of -0.28. Sono-Tek has a 52-week low of $3.50 and a 52-week high of $6.12. The business has a fifty day moving average of $4.25 and a 200-day moving average of $4.24.

Sono-Tek (NASDAQ:SOTK) last released its earnings results on Tuesday, October 15th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $5.16 million for the quarter, compared to analyst estimates of $5.23 million. Sono-Tek had a net margin of 7.36% and a return on equity of 9.20%. During the same period in the prior year, the business earned $0.03 EPS. As a group, equities analysts anticipate that Sono-Tek will post 0.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Northland Securities reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Sono-Tek in a research note on Wednesday, October 16th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sono-Tek stock. Geode Capital Management LLC raised its position in Sono-Tek Co. (NASDAQ:SOTK) by 11.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,355 shares of the industrial products company’s stock after acquiring an additional 12,900 shares during the quarter. Geode Capital Management LLC owned approximately 0.80% of Sono-Tek worth $505,000 as of its most recent SEC filing. Institutional investors own 47.89% of the company’s stock.

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.