Short Interest in Sono-Tek Corporation (NASDAQ:SOTK) Rises By 93.3%

Sono-Tek Corporation (NASDAQ:SOTK) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totaling 8,772 shares, an increase of 93.3% from the April 30th total of 4,539 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 26,680 shares, the days-to-cover ratio is currently 0.3 days.

Analysts Set New Price Targets

SOTK has been the subject of a number of research analyst reports. Truist Financial set a $8.50 target price on Sono-Tek in a report on Friday, March 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sono-Tek in a report on Friday, March 27th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Sono-Tek has a consensus rating of “Hold” and a consensus target price of $8.50.

Institutional Investors Weigh In On Sono-Tek

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in Sono-Tek by 12.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 21,200 shares of the industrial products company’s stock worth $88,000 after buying an additional 2,427 shares in the last quarter. Bard Associates Inc. grew its holdings 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 worth $179,000 after buying an additional 2,838 shares in the last quarter. Susquehanna International Group LLP grew its holdings in Sono-Tek by 28.2% during the third quarter. Susquehanna International Group LLP now owns 15,410 shares of the industrial products company’s stock worth $69,000 after buying an additional 3,389 shares in the last quarter. HM Payson & Co. bought a new stake in Sono-Tek during the fourth quarter worth $89,000. Finally, Renaissance Technologies LLC grew its holdings in Sono-Tek by 62.6% during the fourth quarter. Renaissance Technologies LLC now owns 62,939 shares of the industrial products company’s stock worth $260,000 after buying an additional 24,239 shares in the last quarter. Institutional investors own 47.89% of the company’s stock.

Sono-Tek Stock Performance

Shares of Sono-Tek stock opened at $5.32 on Tuesday. Sono-Tek has a 52 week low of $3.23 and a 52 week high of $5.70. The stock has a 50 day moving average price of $4.53 and a two-hundred day moving average price of $4.22. The stock has a market capitalization of $83.58 million, a PE ratio of 48.37 and a beta of -0.03.

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

Sono-Tek Company Profile

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.