Short Interest in Sono-Tek Co. (NASDAQ:SOTK) Drops By 22.5%

Sono-Tek Co. (NASDAQ:SOTK) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totalling 3,100 shares, a decline of 22.5% from the June 30th total of 4,000 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 11,100 shares, the short-interest ratio is presently 0.3 days.

Sono-Tek Stock Down 1.3 %

Shares of SOTK traded down $0.05 during midday trading on Monday, hitting $3.80. The company’s stock had a trading volume of 4,281 shares, compared to its average volume of 11,599. Sono-Tek has a one year low of $3.62 and a one year high of $6.12. The company’s fifty day simple moving average is $4.23 and its two-hundred day simple moving average is $4.76. The stock has a market capitalization of $59.85 million, a price-to-earnings ratio of 38.00 and a beta of -0.27.

Sono-Tek (NASDAQ:SOTK) last issued its quarterly earnings results on Thursday, July 11th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. Sono-Tek had a return on equity of 10.69% and a net margin of 8.14%. The company had revenue of $5.03 million for the quarter, compared to analyst estimates of $4.93 million. On average, research analysts predict that Sono-Tek will post 0.07 earnings per share for the current year.

Hedge Funds Weigh In On Sono-Tek

A hedge fund recently bought a new stake in Sono-Tek stock. M&T Bank Corp purchased a new stake in Sono-Tek Co. (NASDAQ:SOTK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 89,412 shares of the industrial products company’s stock, valued at approximately $484,000. M&T Bank Corp owned about 0.57% of Sono-Tek as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 47.89% of the company’s stock.

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.