Sono-Tek (NASDAQ:SOTK) Stock Rating Lowered by Zacks Research

Sono-Tek (NASDAQ:SOTK) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Sono-Tek in a report on Monday. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.50.

Sono-Tek Trading Up 0.8%

Shares of NASDAQ SOTK traded up $0.03 during mid-day trading on Monday, reaching $3.73. The company had a trading volume of 2,013 shares, compared to its average volume of 14,787. The stock has a market cap of $58.61 million, a price-to-earnings ratio of 37.31 and a beta of -0.27. The business’s 50-day moving average is $4.17 and its 200-day moving average is $3.86. Sono-Tek has a 52 week low of $3.23 and a 52 week high of $6.05.

Sono-Tek (NASDAQ:SOTK) last issued its earnings results on Tuesday, October 14th. The industrial products company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $5.16 million during the quarter, compared to analysts’ expectations of $5.25 million. Sono-Tek had a return on equity of 8.38% and a net margin of 7.33%.During the same period in the prior year, the business earned $0.02 EPS. As a group, equities research analysts forecast that Sono-Tek will post 0.07 earnings per share for the current year.

Insiders Place Their Bets

In other Sono-Tek news, Director Christopher L. Coccio sold 12,320 shares of Sono-Tek stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $4.78, for a total value of $58,889.60. Following the completion of the transaction, the director owned 309,447 shares of the company’s stock, valued at approximately $1,479,156.66. The trade was a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sono-Tek stock. Susquehanna International Group LLP increased its holdings in shares of Sono-Tek Corporation (NASDAQ:SOTK) by 28.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,410 shares of the industrial products company’s stock after acquiring an additional 3,389 shares during the quarter. Susquehanna International Group LLP owned about 0.10% of Sono-Tek worth $69,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.