Sono-Tek Co. (NASDAQ:SOTK) Short Interest Up 185.4% in December

Sono-Tek Co. (NASDAQ:SOTK) saw a significant increase in short interest during the month of 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 daily trading volume, of 18,000 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.1% of the shares of the company are sold short.

Sono-Tek Stock Performance

Shares of SOTK stock traded down $0.01 during mid-day trading on Tuesday, reaching $3.76. 3,045 shares of the company’s stock traded hands, compared to its average volume of 19,668. Sono-Tek has a 12 month low of $3.50 and a 12 month high of $6.12. The firm has a 50 day moving average price of $4.42 and a two-hundred day moving average price of $4.22. The firm has a market capitalization of $59.22 million, a PE ratio of 41.78 and a beta of -0.20.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sono-Tek stock. Geode Capital Management LLC lifted its position in shares of Sono-Tek Co. (NASDAQ:SOTK) by 11.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 125,355 shares of the industrial products company’s stock after buying an additional 12,900 shares during the quarter. Geode Capital Management LLC owned approximately 0.80% of Sono-Tek worth $505,000 at the end of the most recent quarter. 47.89% of the stock is currently 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.