Sono-Tek (NASDAQ:SOTK) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Sono-Tek Co. (NASDAQ:SOTK) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.19 and traded as low as $3.77. Sono-Tek shares last traded at $3.93, with a volume of 9,444 shares trading hands.

Analyst Ratings Changes

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

Sono-Tek Price Performance

The stock has a market cap of $61.90 million, a P/E ratio of 56.14 and a beta of -0.20. The company has a fifty day moving average of $4.12 and a 200 day moving average of $4.20.

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

Hedge Funds Weigh In On Sono-Tek

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of Sono-Tek by 11.5% during the 3rd quarter. Geode Capital Management LLC now owns 125,355 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 12,900 shares in the last quarter. Bard Associates Inc. increased its position in Sono-Tek by 29.7% during the third quarter. Bard Associates Inc. now owns 53,425 shares of the industrial products company’s stock worth $215,000 after buying an additional 12,220 shares during the last quarter. Northern Trust Corp raised its holdings in Sono-Tek by 58.8% during the fourth quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company’s stock valued at $165,000 after buying an additional 15,212 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Sono-Tek in the fourth quarter worth about $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.