Sono-Tek (NASDAQ:SOTK) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Sono-Tek Corporation (NASDAQ:SOTK) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred 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 changing hands.

Analyst Ratings Changes

SOTK has been the topic of several recent research reports. Wall Street Zen cut shares of Sono-Tek from a “strong-buy” rating to a “hold” rating in a research note on Saturday, October 17th. Weiss Ratings lowered shares of Sono-Tek from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Finally, 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 report on Monday, October 26th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Sono-Tek Stock Performance

The stock has a 50 day moving average of $5.37 and a two-hundred day moving average of $4.87. The stock has a market cap of $75.76 million, a PE ratio of 40.08 and a beta of 0.07.

Sono-Tek (NASDAQ:SOTK) last posted its quarterly earnings data on Wednesday, October 14th. The industrial products company reported $0.02 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $5.54 million. Analysts expect that Sono-Tek Corporation will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Sono-Tek

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new position in Sono-Tek during the second quarter valued at approximately $73,000. Bard Associates Inc. acquired a new position in Sono-Tek in the 2nd quarter worth about $349,000. BlackRock Inc. acquired a new position in Sono-Tek in the 2nd quarter worth about $179,000. Finally, Renaissance Technologies LLC raised its stake in shares of Sono-Tek by 41.6% during the 1st quarter. Renaissance Technologies LLC now owns 89,100 shares of the industrial products company’s stock worth $362,000 after purchasing an additional 26,161 shares in the last quarter. 47.89% of the stock is currently owned by hedge funds and other institutional investors.

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.