Sono-Tek’s (SOTK) “Outperform” Rating Reaffirmed at Northland Securities

Sono-Tek (NASDAQ:SOTK)‘s stock had its “outperform” rating reiterated by equities research analysts at Northland Securities in a report issued on Tuesday,Benzinga reports. They currently have a $7.50 price target on the industrial products company’s stock, down from their previous price target of $10.00. Northland Securities’ price objective would indicate a potential upside of 98.94% from the company’s previous close.

Sono-Tek Price Performance

Shares of SOTK stock opened at $3.77 on Tuesday. Sono-Tek has a fifty-two week low of $3.50 and a fifty-two week high of $6.12. The stock’s 50-day moving average is $4.42 and its two-hundred day moving average is $4.22. The firm has a market cap of $59.38 million, a P/E ratio of 41.89 and a beta of -0.20.

Sono-Tek (NASDAQ:SOTK) last posted its earnings results on Monday, January 13th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. Sono-Tek had a net margin of 7.36% and a return on equity of 9.20%. As a group, research analysts expect that Sono-Tek will post 0.07 EPS for the current year.

Institutional Trading of Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Bard Associates Inc. increased its stake in Sono-Tek Co. (NASDAQ:SOTK) by 29.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 53,425 shares of the industrial products company’s stock after purchasing an additional 12,220 shares during the quarter. Bard Associates Inc. owned approximately 0.34% of Sono-Tek worth $215,000 at the end of the most recent reporting period. 47.89% of the stock is currently owned by hedge funds and other institutional investors.

Sono-Tek Company Profile

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.