Sono-Tek (NASDAQ:SOTK) Stock Price Crosses Below 200 Day Moving Average – Here’s What Happened

Shares of Sono-Tek Co. (NASDAQ:SOTK) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.21 and traded as low as $3.81. Sono-Tek shares last traded at $3.87, with a volume of 28,864 shares.

Wall Street Analyst Weigh In

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

Sono-Tek Stock Performance

The stock has a market capitalization of $60.95 million, a P/E ratio of 55.29 and a beta of -0.20. The stock’s 50 day simple moving average is $4.34 and its 200 day simple moving average is $4.21.

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

Institutional Trading of Sono-Tek

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

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.