Short Interest in Sono-Tek Co. (NASDAQ:SOTK) Drops By 24.0%

Sono-Tek Co. (NASDAQ:SOTK) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 7,900 shares, a drop of 24.0% from the March 15th total of 10,400 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 13,200 shares, the days-to-cover ratio is currently 0.6 days.

Insider Transactions at Sono-Tek

In other news, Director Christopher L. Coccio sold 7,080 shares of Sono-Tek stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $5.64, for a total transaction of $39,931.20. Following the completion of the sale, the director now owns 328,999 shares of the company’s stock, valued at $1,855,554.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Sono-Tek news, Director Christopher L. Coccio sold 7,080 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $5.64, for a total value of $39,931.20. Following the completion of the transaction, the director now owns 328,999 shares in the company, valued at approximately $1,855,554.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robb William Engle sold 5,981 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $5.86, for a total value of $35,048.66. Following the completion of the transaction, the vice president now owns 75,186 shares of the company’s stock, valued at approximately $440,589.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,969 shares of company stock valued at $183,049. 6.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sono-Tek

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new position in Sono-Tek during the 1st quarter worth approximately $69,000. Two Sigma Securities LLC bought a new stake in shares of Sono-Tek in the 2nd quarter worth approximately $70,000. BlackRock Inc. grew its position in shares of Sono-Tek by 12.9% in the 2nd quarter. BlackRock Inc. now owns 20,929 shares of the industrial products company’s stock worth $113,000 after buying an additional 2,388 shares during the last quarter. Bard Associates Inc. grew its position in shares of Sono-Tek by 8.7% in the 4th quarter. Bard Associates Inc. now owns 25,280 shares of the industrial products company’s stock worth $137,000 after buying an additional 2,030 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Sono-Tek by 159.9% in the 4th quarter. Northern Trust Corp now owns 29,727 shares of the industrial products company’s stock worth $161,000 after buying an additional 18,288 shares during the last quarter. 47.89% of the stock is currently owned by institutional investors.

Sono-Tek Stock Up 1.6 %

NASDAQ:SOTK opened at $4.47 on Monday. The business’s 50-day moving average price is $5.13 and its two-hundred day moving average price is $5.21. Sono-Tek has a twelve month low of $4.20 and a twelve month high of $6.12. The stock has a market cap of $70.36 million, a P/E ratio of 63.86 and a beta of -0.26.

Sono-Tek (NASDAQ:SOTK) last released its quarterly earnings results on Tuesday, January 16th. The industrial products company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. Sono-Tek had a return on equity of 8.87% and a net margin of 7.25%. The firm had revenue of $5.69 million for the quarter. On average, equities research analysts expect that Sono-Tek will post 0.08 EPS for the current fiscal year.

About Sono-Tek

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.