Sono-Tek (NASDAQ:SOTK) Shares Cross Below 200 Day Moving Average – What’s Next?

Sono-Tek Corporation (NASDAQ:SOTK) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $4.87 and traded as low as $4.80. Sono-Tek shares last traded at $4.81, with a volume of 238,256 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Weiss Ratings cut shares of Sono-Tek from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Northland Securities upgraded shares of Sono-Tek from a “market perform” rating to an “outperform” rating and set a $7.00 price target on the stock in a research note on Monday, October 26th. Finally, Wall Street Zen downgraded shares of Sono-Tek from a “strong-buy” rating to a “hold” rating in a report on Saturday, October 17th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Sono-Tek Trading Down 7.5%

The stock has a fifty day moving average price of $5.37 and a 200 day moving average price of $4.87. The firm has a market cap of $75.76 million, a price-to-earnings ratio of 40.08 and a beta of 0.07.

Sono-Tek (NASDAQ:SOTK) last posted its earnings results on Wednesday, October 14th. The industrial products company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Sono-Tek had a return on equity of 9.95% and a net margin of 9.32%. The company had revenue of $5.23 million during the quarter, compared to analyst estimates of $5.54 million. On average, sell-side analysts forecast that Sono-Tek Corporation will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Sono-Tek

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Sono-Tek during the 2nd quarter valued at $179,000. Northwestern Mutual Wealth Management Co. bought a new stake in Sono-Tek in the 2nd quarter valued at $73,000. Bard Associates Inc. bought a new stake in Sono-Tek in the 2nd quarter valued at $349,000. Finally, Renaissance Technologies LLC increased its stake in Sono-Tek by 41.6% during the first quarter. Renaissance Technologies LLC now owns 89,100 shares of the industrial products company’s stock valued at $362,000 after acquiring an additional 26,161 shares during the period. Institutional investors own 47.89% of the company’s stock.

About Sono-Tek

Sono-Tek Corporation is a precision technology company that designs and manufactures ultrasonic coating and spraying systems. Its equipment uses high-frequency ultrasonic energy to atomize liquids into controlled, uniform sprays, enabling manufacturers to apply thin films, coatings and other materials with minimal overspray and waste.

The company offers ultrasonic spray nozzles, integrated coating systems, precision liquid-dispensing equipment and automated or robotic platforms. Its technologies are used in applications including medical devices, electronics, fuel cells, solar and alternative-energy products, glass and other industrial components.