Sono-Tek Corporation (NASDAQ:SOTK) Short Interest Down 49.7% in August

Sono-Tek Corporation (NASDAQ:SOTK) was the target of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 10,512 shares, a decrease of 49.7% from the July 30th total of 20,889 shares. Based on an average daily volume of 40,006 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SOTK. Wall Street Zen raised shares of Sono-Tek to a “strong-buy” rating in a research note on Sunday, July 12th. Weiss Ratings upgraded shares of Sono-Tek from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 25th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Sono-Tek presently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Insider Buying and Selling at Sono-Tek

In other news, CFO Stephen James Bagley sold 8,346 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $5.13, for a total transaction of $42,814.98. Following the completion of the transaction, the chief financial officer directly owned 21,254 shares in the company, valued at approximately $109,033.02. This represents a 28.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 13,000 shares of company stock worth $67,666. Corporate insiders own 5.57% of the company’s stock.

Institutional Trading of Sono-Tek

Several institutional investors and hedge funds have recently made changes to their positions in SOTK. Renaissance Technologies LLC lifted its stake in Sono-Tek by 62.6% in the fourth quarter. Renaissance Technologies LLC now owns 62,939 shares of the industrial products company’s stock valued at $260,000 after buying an additional 24,239 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Sono-Tek by 12.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,200 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 2,427 shares in the last quarter. HM Payson & Co. acquired a new position in shares of Sono-Tek during the fourth quarter worth about $89,000. Northwestern Mutual Wealth Management Co. purchased a new position in Sono-Tek during the second quarter worth about $73,000. Finally, Bard Associates Inc. purchased a new position in Sono-Tek during the second quarter worth about $349,000. 47.89% of the stock is owned by hedge funds and other institutional investors.

Sono-Tek Price Performance

Shares of Sono-Tek stock traded up $0.12 on Monday, reaching $5.01. 22,701 shares of the company were exchanged, compared to its average volume of 35,435. Sono-Tek has a 1-year low of $3.35 and a 1-year high of $6.24. The stock’s 50 day moving average price is $5.31 and its 200-day moving average price is $4.80. The company has a market cap of $78.74 million, a P/E ratio of 38.54 and a beta of -0.03.

Sono-Tek (NASDAQ:SOTK) last released its quarterly earnings data on Wednesday, July 8th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $5.66 million during the quarter, compared to analysts’ expectations of $5.60 million. Sono-Tek had a net margin of 9.62% and a return on equity of 10.55%. During the same period in the previous year, the company earned $0.03 EPS. On average, research analysts predict that Sono-Tek will post 0.11 earnings per share for the current fiscal year.

Sono-Tek Company Profile

Sono-Tek Corporation is a specialized equipment manufacturer that designs, develops and sells ultrasonic spray coating systems for precision fluid delivery. The company’s core technology uses high-frequency ultrasonic vibrations to generate fine, uniform droplets that can be applied to a broad range of substrates with minimal waste and high accuracy. This method enables precise control over coating thickness, distribution and material usage, making it well suited to applications requiring micro-scale deposition and tight process tolerances.

The company’s product portfolio includes bench-top research and development stations, pilot-scale units and full production systems.