Sono-Tek Corporation (NASDAQ:SOTK) Short Interest Up 136.1% in June

Sono-Tek Corporation (NASDAQ:SOTK) saw a large growth in short interest in June. As of June 30th, there was short interest totaling 10,665 shares, a growth of 136.1% from the June 15th total of 4,517 shares. Based on an average daily trading volume, of 43,560 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are short sold.

Sono-Tek Trading Down 1.2%

NASDAQ:SOTK traded down $0.06 during mid-day trading on Tuesday, reaching $5.30. 4,790 shares of the stock were exchanged, compared to its average volume of 34,721. The business has a fifty day moving average price of $5.20 and a 200 day moving average price of $4.53. The firm has a market capitalization of $83.24 million, a PE ratio of 41.20 and a beta of -0.05. Sono-Tek has a 1-year low of $3.23 and a 1-year high of $6.24.

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

Institutional Trading of Sono-Tek

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOTK. Dimensional Fund Advisors LP grew its position in Sono-Tek by 29.8% in the third quarter. Dimensional Fund Advisors LP now owns 18,773 shares of the industrial products company’s stock worth $84,000 after buying an additional 4,305 shares during the last quarter. Susquehanna International Group LLP lifted its position in shares of Sono-Tek by 28.2% during the 3rd quarter. Susquehanna International Group LLP now owns 15,410 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 3,389 shares during the last quarter. HM Payson & Co. acquired a new stake in shares of Sono-Tek during the 4th quarter valued at $89,000. Renaissance Technologies LLC boosted its stake in shares of Sono-Tek by 62.6% during the 4th quarter. Renaissance Technologies LLC now owns 62,939 shares of the industrial products company’s stock worth $260,000 after acquiring an additional 24,239 shares in the last quarter. Finally, Bard Associates Inc. boosted its stake in shares of Sono-Tek by 7.0% during the 4th quarter. Bard Associates Inc. now owns 43,244 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 2,838 shares in the last quarter. 47.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Sono-Tek from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 25th. Wall Street Zen raised Sono-Tek to a “strong-buy” rating in a report on Sunday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Sono-Tek has an average rating of “Moderate Buy” and an average price target of $8.50.

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.