Sono-Tek Corporation (NASDAQ:SOTK) Short Interest Down 26.6% in March

Sono-Tek Corporation (NASDAQ:SOTK) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 4,452 shares, a decrease of 26.6% from the February 26th total of 6,069 shares. Based on an average trading volume of 31,572 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SOTK. Renaissance Technologies LLC raised its holdings in shares of Sono-Tek by 62.6% in the fourth quarter. Renaissance Technologies LLC now owns 62,939 shares of the industrial products company’s stock worth $260,000 after buying an additional 24,239 shares during the period. Bard Associates Inc. boosted its stake in shares of Sono-Tek by 7.0% during the fourth quarter. Bard Associates Inc. now owns 43,244 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 2,838 shares during the period. HM Payson & Co. bought a new position in shares of Sono-Tek in the fourth quarter worth about $89,000. Dimensional Fund Advisors LP increased its stake in Sono-Tek by 12.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,200 shares of the industrial products company’s stock worth $88,000 after buying an additional 2,427 shares during the period. Finally, Susquehanna International Group LLP lifted its holdings in 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 buying an additional 3,389 shares in the last quarter. Hedge funds and other institutional investors own 47.89% of the company’s stock.

Sono-Tek Price Performance

Shares of Sono-Tek stock traded down $0.08 on Monday, reaching $4.02. The company had a trading volume of 18,416 shares, compared to its average volume of 29,076. The firm has a market cap of $63.15 million, a price-to-earnings ratio of 40.20 and a beta of -0.32. The firm’s 50-day moving average price is $4.13 and its two-hundred day moving average price is $4.15. Sono-Tek has a 1 year low of $3.23 and a 1 year high of $5.15.

Sono-Tek (NASDAQ:SOTK) last issued its quarterly earnings results on Tuesday, January 13th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $5.00 million during the quarter, compared to the consensus estimate of $5.25 million. Sono-Tek had a return on equity of 8.54% and a net margin of 7.72%. As a group, analysts anticipate that Sono-Tek will post 0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SOTK. Truist Financial set a $8.50 price target on Sono-Tek in a research note on Friday, March 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Sono-Tek in a report on Friday. Finally, Zacks Research cut Sono-Tek from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Sono-Tek presently has an average rating of “Hold” and a consensus price target of $8.50.

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.