Short Interest in Sono-Tek Corporation (NASDAQ:SOTK) Decreases By 55.7%

Sono-Tek Corporation (NASDAQ:SOTK) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 4,517 shares, a decrease of 55.7% from the May 31st total of 10,186 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 46,437 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analyst Weigh In

SOTK has been the subject of several analyst reports. Weiss Ratings upgraded Sono-Tek from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 25th. Truist Financial set a $8.50 price objective on Sono-Tek in a report on Friday, March 13th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Sono-Tek has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Sono-Tek Price Performance

NASDAQ:SOTK traded down $0.24 during trading hours on Wednesday, reaching $5.88. 55,994 shares of the company were exchanged, compared to its average volume of 33,177. The firm has a market cap of $92.40 million, a price-to-earnings ratio of 53.46 and a beta of -0.03. The stock has a 50 day simple moving average of $5.06 and a 200 day simple moving average of $4.42. Sono-Tek has a 52-week low of $3.23 and a 52-week high of $6.24.

Sono-Tek (NASDAQ:SOTK) last announced its quarterly earnings data on Thursday, May 28th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $5.61 million during the quarter, compared to analysts’ expectations of $5.59 million. Sono-Tek had a net margin of 8.64% and a return on equity of 9.52%. On average, analysts predict that Sono-Tek will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Sono-Tek

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Sono-Tek by 41.6% during the 1st quarter. Renaissance Technologies LLC now owns 89,100 shares of the industrial products company’s stock worth $362,000 after purchasing an additional 26,161 shares in the last quarter. Bard Associates Inc. lifted its position in Sono-Tek by 7.0% during the fourth quarter. Bard Associates Inc. now owns 43,244 shares of the industrial products company’s stock valued at $179,000 after buying an additional 2,838 shares in the last quarter. HM Payson & Co. purchased a new stake in Sono-Tek during the fourth quarter worth approximately $89,000. Dimensional Fund Advisors LP increased its position in shares of Sono-Tek by 12.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,200 shares of the industrial products company’s stock worth $88,000 after acquiring an additional 2,427 shares in the last quarter. Finally, Susquehanna International Group LLP increased its position in shares of Sono-Tek by 28.2% in the third quarter. Susquehanna International Group LLP now owns 15,410 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 3,389 shares in the last quarter. 47.89% of the stock is currently owned by institutional investors and hedge funds.

About Sono-Tek

Sono-Tek Corporation is a specialized equipment manufacturer that designs, develops and sells ultrasonic spray coating systems for precision fluid delivery. The company’s core technology uses high-frequency ultrasonic vibrations to generate fine, uniform droplets that can be applied to a broad range of substrates with minimal waste and high accuracy. This method enables precise control over coating thickness, distribution and material usage, making it well suited to applications requiring micro-scale deposition and tight process tolerances.

The company’s product portfolio includes bench-top research and development stations, pilot-scale units and full production systems.