Sono-Tek (NASDAQ:SOTK) Upgraded at Northland Securities

Northland Securities upgraded shares of Sono-Tek (NASDAQ:SOTK) from a market perform rating to an outperform rating in a report released on Monday, MarketBeat Ratings reports. They currently have $7.00 price objective on the industrial products company’s stock.

A number of other research firms also recently commented on SOTK. Weiss Ratings downgraded shares of Sono-Tek from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Wall Street Zen downgraded Sono-Tek from a “strong-buy” rating to a “hold” rating in a research report on Saturday, October 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Sono-Tek Trading Up 0.4%

Shares of SOTK opened at $5.40 on Monday. Sono-Tek has a 12 month low of $3.40 and a 12 month high of $7.48. The firm has a fifty day simple moving average of $5.38 and a 200 day simple moving average of $4.86. The stock has a market capitalization of $85.06 million, a price-to-earnings ratio of 45.00 and a beta of 0.07.

Sono-Tek (NASDAQ:SOTK) last released its earnings results on Wednesday, October 14th. The industrial products company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Sono-Tek had a net margin of 9.32% and a return on equity of 9.95%. The business had revenue of $5.23 million during the quarter, compared to the consensus estimate of $5.54 million. As a group, research analysts predict that Sono-Tek will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sono-Tek

A number of institutional investors and hedge funds have recently made changes to their positions in SOTK. Northwestern Mutual Wealth Management Co. bought a new position in shares of Sono-Tek in the second quarter valued at $73,000. Renaissance Technologies LLC increased its holdings 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 worth $362,000 after buying an additional 26,161 shares during the last quarter. BlackRock Inc. acquired a new position in Sono-Tek during the second quarter worth $179,000. Finally, Bard Associates Inc. acquired a new position in Sono-Tek during the second quarter worth $349,000. Institutional investors own 47.89% of the company’s stock.

Sono-Tek Company Profile

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.