Sono-Tek Co. (NASDAQ:SOTK) Short Interest Update

Sono-Tek Co. (NASDAQ:SOTK) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 8,700 shares, an increase of 29.9% from the March 15th total of 6,700 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 7,600 shares, the short-interest ratio is currently 1.1 days.

Institutional Trading of Sono-Tek

Hedge funds have recently made changes to their positions in the company. Bard Associates Inc. increased its stake in Sono-Tek by 5.6% during the fourth quarter. Bard Associates Inc. now owns 56,431 shares of the industrial products company’s stock worth $226,000 after acquiring an additional 3,006 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 last quarter. Northern Trust Corp boosted its stake in 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 buying an additional 15,212 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Sono-Tek during the fourth quarter valued at about $3,101,000. Hedge funds and other institutional investors own 47.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sono-Tek Trading Up 0.9 %

Shares of SOTK stock opened at $3.73 on Monday. Sono-Tek has a twelve month low of $3.50 and a twelve month high of $6.05. The stock has a market cap of $58.67 million, a price-to-earnings ratio of 53.21 and a beta of -0.10. The company’s 50-day moving average price is $3.67 and its 200-day moving average price is $4.07.

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.