Sono-Tek Co. (NASDAQ:SOTK) Sees Large Decline in Short Interest

Sono-Tek Co. (NASDAQ:SOTKGet Free Report) saw a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 15,100 shares, a decrease of 37.6% from the January 15th total of 24,200 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 10,200 shares, the short-interest ratio is presently 1.5 days.

Sono-Tek Stock Performance

SOTK traded down $0.17 during mid-day trading on Monday, reaching $5.62. The stock had a trading volume of 37,010 shares, compared to its average volume of 14,989. The firm’s fifty day simple moving average is $5.47 and its two-hundred day simple moving average is $5.17. The stock has a market capitalization of $88.46 million, a P/E ratio of 82.71 and a beta of -0.24. Sono-Tek has a 52 week low of $4.39 and a 52 week high of $6.12.

Sono-Tek (NASDAQ:SOTKGet Free Report) last announced its quarterly earnings results on Tuesday, January 16th. The industrial products company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Sono-Tek had a return on equity of 8.87% and a net margin of 7.25%. The firm had revenue of $5.69 million for the quarter. As a group, analysts expect that Sono-Tek will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Sono-Tek

In other Sono-Tek news, Director Joseph Riemer sold 5,335 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $5.70, for a total value of $30,409.50. Following the sale, the director now directly owns 18,662 shares of the company’s stock, valued at approximately $106,373.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Joseph Riemer sold 5,335 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $5.70, for a total transaction of $30,409.50. Following the completion of the transaction, the director now directly owns 18,662 shares in the company, valued at approximately $106,373.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Robb William Engle sold 5,981 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $5.86, for a total value of $35,048.66. Following the sale, the vice president now directly owns 75,186 shares in the company, valued at $440,589.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,188 shares of company stock valued at $169,698. Insiders own 6.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP bought a new stake in Sono-Tek during the 1st quarter valued at $69,000. Two Sigma Securities LLC purchased a new stake in Sono-Tek during the second quarter valued at about $70,000. BlackRock Inc. raised its stake in shares of Sono-Tek by 12.9% during the second quarter. BlackRock Inc. now owns 20,929 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 2,388 shares during the last quarter. Wynnefield Capital Inc. grew its holdings in Sono-Tek by 5,263.2% in the second quarter. Wynnefield Capital Inc. now owns 50,950 shares of the industrial products company’s stock worth $275,000 after purchasing an additional 50,000 shares during the period. Finally, M&T Bank Corp purchased a new stake in shares of Sono-Tek during the fourth quarter valued at approximately $484,000. 6.45% of the stock is currently owned by institutional investors and hedge funds.

Sono-Tek Company Profile

(Get Free Report)

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.

Further Reading

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