Sono-Tek (NASDAQ:SOTK) Stock Passes Below 200-Day Moving Average – Here’s Why

Sono-Tek Co. (NASDAQ:SOTK) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.15 and traded as low as $3.68. Sono-Tek shares last traded at $3.68, with a volume of 10,683 shares trading hands.

Analyst Ratings Changes

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

Sono-Tek Stock Up 0.7 %

The stock has a fifty day moving average price of $3.80 and a 200-day moving average price of $4.14. The firm has a market cap of $57.57 million, a price-to-earnings ratio of 52.21 and a beta of -0.24.

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

Hedge Funds Weigh In On Sono-Tek

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp grew its holdings in shares of Sono-Tek by 58.8% in the 4th quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 15,212 shares during the period. Bard Associates Inc. increased its holdings in Sono-Tek by 5.6% during the 4th quarter. Bard Associates Inc. now owns 56,431 shares of the industrial products company’s stock valued at $226,000 after acquiring an additional 3,006 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Sono-Tek by 11.5% in 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 during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Sono-Tek during the 4th quarter worth approximately $3,101,000. Institutional investors and hedge funds 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.