Sono-Tek Co. (NASDAQ:SOTK) Short Interest Down 50.0% in August

Sono-Tek Co. (NASDAQ:SOTK) was the recipient of a large 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. Based on an average daily volume of 12,800 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are sold short.

Sono-Tek Stock Down 5.5 %

SOTK stock traded down $0.24 during mid-day trading on Friday, reaching $4.10. 12,502 shares of the stock traded hands, compared to its average volume of 5,818. The business has a 50-day moving average of $4.04 and a two-hundred day moving average of $4.37. The firm has a market capitalization of $64.58 million, a PE ratio of 41.00 and a beta of -0.28. Sono-Tek has a 52 week low of $3.50 and a 52 week high of $6.12.

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

Hedge Funds Weigh In On Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Bard Associates Inc. grew its stake in Sono-Tek Co. (NASDAQ:SOTK) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,280 shares of the industrial products company’s stock after purchasing an additional 2,030 shares during the period. Bard Associates Inc. owned about 0.16% of Sono-Tek worth $137,000 as of its most recent SEC filing. 47.89% of the stock is 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.