Sono-Tek (NASDAQ:SOTK) Shares Pass Below 200-Day Moving Average – Should You Sell?

Shares of Sono-Tek Co. (NASDAQ:SOTK) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.20 and traded as low as $3.82. Sono-Tek shares last traded at $3.96, with a volume of 5,965 shares.

Analyst Upgrades and Downgrades

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

Sono-Tek Stock Performance

The stock has a fifty day moving average of $4.24 and a 200-day moving average of $4.20. The company has a market cap of $62.37 million, a PE ratio of 56.57 and a beta of -0.20.

Sono-Tek (NASDAQ:SOTK) last issued its earnings results 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 5.47% and a return on equity of 6.55%. As a group, equities analysts anticipate that Sono-Tek Co. will post 0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Geode Capital Management LLC boosted its position in shares of Sono-Tek Co. (NASDAQ:SOTK) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,355 shares of the industrial products company’s stock after purchasing an additional 12,900 shares during the quarter. Geode Capital Management LLC owned about 0.80% of Sono-Tek worth $505,000 as of its most recent filing with the Securities & Exchange Commission. 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.