Short Interest in Sono-Tek Co. (NASDAQ:SOTK) Decreases By 50.0%

Sono-Tek Co. (NASDAQ:SOTK) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,000 shares, a decline of 50.0% from the August 15th total of 4,000 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 12,800 shares, the days-to-cover ratio is currently 0.2 days.

Sono-Tek Price Performance

Shares of Sono-Tek stock traded down $0.24 during trading on Friday, hitting $4.10. 12,502 shares of the company’s stock traded hands, compared to its average volume of 11,119. Sono-Tek has a 1 year low of $3.50 and a 1 year high of $6.12. The business has a 50-day simple moving average of $4.04 and a 200-day simple moving average of $4.38. The stock has a market capitalization of $64.58 million, a P/E ratio of 41.00 and a beta of -0.28.

Sono-Tek (NASDAQ:SOTK) last announced its quarterly earnings results on Thursday, July 11th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $5.03 million for the quarter, compared to the consensus estimate of $4.93 million. Sono-Tek had a net margin of 8.14% and a return on equity of 10.69%. On average, equities analysts predict that Sono-Tek will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sono-Tek

A hedge fund recently raised its stake in Sono-Tek stock. Bard Associates Inc. boosted its position in shares of Sono-Tek Co. (NASDAQ:SOTK) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,280 shares of the industrial products company’s stock after acquiring an additional 2,030 shares during the quarter. Bard Associates Inc. owned 0.16% of Sono-Tek worth $137,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.