Sono-Tek (NASDAQ:SOTK) Posts Earnings Results, Hits Expectations

Sono-Tek (NASDAQ:SOTK – Get Rating) posted its quarterly earnings data on Thursday. The industrial products company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01, Yahoo Finance reports. The business had revenue of $3.66 million for the quarter, compared to analyst estimates of $4.00 million. Sono-Tek had a return on equity of 7.97% and a net margin of 6.88%. During the same quarter last year, the company earned $0.04 earnings per share.

Sono-Tek Stock Performance

NASDAQ SOTK traded up $0.06 during trading hours on Friday, hitting $5.31. 2,324 shares of the company’s stock were exchanged, compared to its average volume of 7,171. The business’s 50 day moving average is $5.25 and its 200-day moving average is $5.72. Sono-Tek has a 12-month low of $4.64 and a 12-month high of $8.10. The firm has a market capitalization of $83.58 million, a P/E ratio of 65.76 and a beta of -0.24.

Hedge Funds Weigh In On Sono-Tek

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Sono-Tek by 11.3% during the third quarter. BlackRock Inc. now owns 17,459 shares of the industrial products company’s stock worth $122,000 after buying an additional 1,769 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Sono-Tek by 35.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 16,725 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 4,386 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Sono-Tek by 85.1% in the 3rd quarter. Vanguard Group Inc. now owns 293,872 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 135,076 shares during the period. 6.12% of the stock is currently owned by hedge funds and other institutional investors.

Sono-Tek Company Profile

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Sono-Tek Corp. engages in the design and manufacture of ultrasonic coating systems. The firm also provides patented nozzles and generators for manufacturers equipment. Its products categories include electronics, energy, medical, glass, food, textiles, nanotechnology, and industrial. The company was founded by Harvey L.