Sono-Tek (NASDAQ:SOTK) Shares Cross Below 200 Day Moving Average – Here’s Why

Sono-Tek Co. (NASDAQ:SOTK)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.19 and traded as low as $3.77. Sono-Tek shares last traded at $3.93, with a volume of 9,444 shares changing hands.

Analysts Set New Price Targets

Separately, Northland Securities restated an “outperform” rating and set a $7.50 price target (down previously from $10.00) on shares of Sono-Tek in a research report on Tuesday, January 14th.

Sono-Tek Stock Performance

The firm has a market capitalization of $61.90 million, a PE ratio of 56.14 and a beta of -0.20. The stock’s 50 day simple moving average is $4.12 and its two-hundred day simple moving average is $4.20.

Sono-Tek (NASDAQ:SOTK) last issued its quarterly earnings data on Monday, January 13th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. Sono-Tek had a return on equity of 6.55% and a net margin of 5.47%. Equities research analysts expect that Sono-Tek Co. will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sono-Tek

Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in shares of Sono-Tek by 58.8% during the fourth quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 15,212 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Sono-Tek in the 4th quarter valued at $3,101,000. Bard Associates Inc. boosted its holdings in shares of Sono-Tek by 5.6% in the fourth quarter. Bard Associates Inc. now owns 56,431 shares of the industrial products company’s stock valued at $226,000 after acquiring an additional 3,006 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Sono-Tek by 11.5% during the 3rd quarter. Geode Capital Management LLC now owns 125,355 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 12,900 shares during the period. 47.89% of the stock is currently owned by hedge funds and other institutional investors.

About Sono-Tek

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.