Sono-Tek Corporation (NASDAQ:SOTK) Sees Large Growth in Short Interest

Sono-Tek Corporation (NASDAQ:SOTK) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 19,279 shares, a growth of 83.4% from the August 15th total of 10,512 shares. Based on an average daily trading volume, of 35,095 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

SOTK has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of Sono-Tek from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 28th. Wall Street Zen raised shares of Sono-Tek to a “strong-buy” rating in a report on Sunday, July 12th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.50.

Insider Buying and Selling at Sono-Tek

In related news, CFO Stephen James Bagley sold 8,346 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $5.13, for a total transaction of $42,814.98. Following the transaction, the chief financial officer directly owned 21,254 shares in the company, valued at approximately $109,033.02. The trade was a 28.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 13,000 shares of company stock valued at $67,666 over the last three months. 5.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sono-Tek

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of Sono-Tek in the second quarter valued at about $73,000. BlackRock Inc. bought a new stake in shares of Sono-Tek during the 2nd quarter worth about $179,000. Bard Associates Inc. boosted its holdings 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 buying an additional 2,838 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Sono-Tek by 41.6% in the 1st quarter. Renaissance Technologies LLC now owns 89,100 shares of the industrial products company’s stock valued at $362,000 after buying an additional 26,161 shares during the last quarter. 47.89% of the stock is currently owned by institutional investors and hedge funds.

Sono-Tek Trading Down 2.2%

Shares of SOTK traded down $0.10 during mid-day trading on Wednesday, reaching $4.40. The company’s stock had a trading volume of 17,180 shares, compared to its average volume of 36,193. Sono-Tek has a 1-year low of $3.40 and a 1-year high of $6.24. The business has a 50-day simple moving average of $5.17 and a two-hundred day simple moving average of $4.85. The stock has a market cap of $69.17 million, a P/E ratio of 35.11 and a beta of -0.02.

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

About Sono-Tek

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.