Sono-Tek (NASDAQ:SOTK) Receives Outperform Rating from Northland Securities

Sono-Tek (NASDAQ:SOTK)‘s stock had its “outperform” rating restated by equities research analysts at Northland Securities in a report issued on Tuesday,Benzinga reports. They presently have a $7.50 target price on the industrial products company’s stock, down from their prior target price of $10.00. Northland Securities’ price target points to a potential upside of 91.82% from the company’s current price.

Sono-Tek Trading Down 1.0 %

Shares of NASDAQ SOTK opened at $3.91 on Tuesday. Sono-Tek has a 12-month low of $3.50 and a 12-month high of $6.12. The company has a market cap of $61.59 million, a price-to-earnings ratio of 43.45 and a beta of -0.20. The stock’s 50 day simple moving average is $4.41 and its 200 day simple moving average is $4.22.

Sono-Tek (NASDAQ:SOTK) last announced its quarterly earnings results on Monday, January 13th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Sono-Tek had a net margin of 7.36% and a return on equity of 9.20%. As a group, equities analysts forecast that Sono-Tek will post 0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sono-Tek

A hedge fund recently raised its stake in Sono-Tek stock. Geode Capital Management LLC raised its holdings in shares of Sono-Tek Co. (NASDAQ:SOTK) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,355 shares of the industrial products company’s stock after acquiring an additional 12,900 shares during the period. Geode Capital Management LLC owned approximately 0.80% of Sono-Tek worth $505,000 as of its most recent SEC filing. 47.89% of the stock is currently owned by institutional investors and hedge funds.

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.