Sono-Tek’s (SOTK) “Outperform” Rating Reaffirmed at Northland Securities

Sono-Tek (NASDAQ:SOTK)‘s stock had its “outperform” rating restated by Northland Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $7.50 price target on the industrial products company’s stock, down from their previous price target of $10.00. Northland Securities’ price objective would indicate a potential upside of 98.94% from the company’s previous close.

Sono-Tek Stock Down 3.8 %

Shares of NASDAQ:SOTK opened at $3.77 on Tuesday. The company has a market cap of $59.38 million, a price-to-earnings ratio of 41.89 and a beta of -0.20. The business has a 50 day moving average price of $4.42 and a 200 day moving average price of $4.22. Sono-Tek has a twelve month low of $3.50 and a twelve month high of $6.12.

Sono-Tek (NASDAQ:SOTK) last posted its quarterly earnings data 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 return on equity of 9.20% and a net margin of 7.36%. Analysts anticipate that Sono-Tek will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sono-Tek stock. Bard Associates Inc. raised its position in Sono-Tek Co. (NASDAQ:SOTK) by 29.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,425 shares of the industrial products company’s stock after acquiring an additional 12,220 shares during the period. Bard Associates Inc. owned about 0.34% of Sono-Tek worth $215,000 as of its most recent SEC filing. 47.89% of the stock is currently owned by hedge funds and other 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.