Sono-Tek (NASDAQ:SOTK) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Sono-Tek (NASDAQ:SOTK) from a strong-buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised Sono-Tek from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.50.

Sono-Tek Price Performance

SOTK stock opened at $5.47 on Friday. Sono-Tek has a 1-year low of $3.40 and a 1-year high of $7.48. The business has a fifty day moving average price of $5.38 and a 200-day moving average price of $5.13. The stock has a market capitalization of $86.15 million, a P/E ratio of 45.58 and a beta of 0.07.

Sono-Tek (NASDAQ:SOTK) last announced its quarterly earnings results on Wednesday, October 14th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Sono-Tek had a net margin of 9.32% and a return on equity of 9.95%. The business had revenue of $5.23 million for the quarter, compared to the consensus estimate of $5.54 million. As a group, analysts anticipate that Sono-Tek will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Sono-Tek

In other news, CFO Stephen Bagley sold 8,346 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $5.13, for a total transaction of $42,814.98. Following the transaction, the chief financial officer directly owned 21,254 shares of the company’s stock, valued at $109,033.02. This represents a 28.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 13,000 shares of company stock worth $67,666. 5.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sono-Tek

Institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Sono-Tek in the second quarter worth $73,000. BlackRock Inc. bought a new position in Sono-Tek in the second quarter valued at about $179,000. Bard Associates Inc. bought a new position in Sono-Tek in the second quarter valued at about $349,000. Finally, Renaissance Technologies LLC lifted its holdings in Sono-Tek by 41.6% in the first quarter. Renaissance Technologies LLC now owns 89,100 shares of the industrial products company’s stock valued at $362,000 after acquiring an additional 26,161 shares during the period. 47.89% of the stock is currently owned by hedge funds and other institutional investors.

Sono-Tek Company Profile

Sono-Tek Corporation develops and manufactures ultrasonic coating and precision liquid-deposition systems. Its technology uses high-frequency sound waves to atomize liquids into a controlled spray, enabling uniform application of coatings, adhesives, lubricants, and other materials while minimizing overspray and material waste.

The company’s products include ultrasonic spray nozzles, integrated coating systems, and customized solutions designed for automated manufacturing processes. Sono-Tek also provides application development, process optimization, installation, training, and technical support to help customers integrate its equipment into production lines.

Sono-Tek’s systems are used across a range of industries, including medical devices, electronics, semiconductor and advanced technology manufacturing, alternative energy, glass, textiles, and other industrial applications.