Sono-Tek (NASDAQ:SOTK) Stock Passes Below 200 Day Moving Average – What’s Next?

Sono-Tek Co. (NASDAQ:SOTK)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.21 and traded as low as $3.81. Sono-Tek shares last traded at $3.87, with a volume of 28,864 shares traded.

Wall Street Analyst Weigh In

Separately, Northland Securities restated an “outperform” rating and issued a $7.50 target price (down previously from $10.00) on shares of Sono-Tek in a research note on Tuesday, January 14th.

Sono-Tek Trading Down 1.0 %

The company has a market cap of $60.95 million, a PE ratio of 55.29 and a beta of -0.20. The stock has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $4.21.

Sono-Tek (NASDAQ:SOTK) last announced its quarterly earnings data on Monday, January 13th. The industrial products company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. Sono-Tek had a return on equity of 6.55% and a net margin of 5.47%. As a group, equities research analysts anticipate that Sono-Tek Co. will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Sono-Tek

A hedge fund recently raised its stake in Sono-Tek stock. Bard Associates Inc. lifted its holdings in shares of Sono-Tek Co. (NASDAQ:SOTK) by 29.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,425 shares of the industrial products company’s stock after purchasing an additional 12,220 shares during the period. Bard Associates Inc. owned about 0.34% of Sono-Tek worth $215,000 as of its most recent SEC filing. 47.89% of the stock is owned by 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.