Sono-Tek (NASDAQ:SOTK) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Sono-Tek Co. (NASDAQ:SOTK)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.15 and traded as low as $3.68. Sono-Tek shares last traded at $3.68, with a volume of 10,683 shares traded.

Wall Street Analyst Weigh In

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

Sono-Tek Stock Performance

The stock has a market capitalization of $57.57 million, a PE ratio of 52.21 and a beta of -0.24. The firm’s 50 day moving average is $3.80 and its two-hundred day moving average is $4.14.

Sono-Tek (NASDAQ:SOTK) last announced its quarterly earnings data 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 return on equity of 6.55% and a net margin of 5.47%. On average, analysts anticipate that Sono-Tek Co. will post 0.07 EPS for the current year.

Hedge Funds Weigh In On Sono-Tek

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

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.