Sono-Tek (NASDAQ:SOTK) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Sono-Tek Co. (NASDAQ:SOTKGet Free Report) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.09 and traded as low as $3.51. Sono-Tek shares last traded at $3.52, with a volume of 4,343 shares.

Analysts Set New Price Targets

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

View Our Latest Stock Analysis on SOTK

Sono-Tek Stock Performance

The stock has a market cap of $55.44 million, a P/E ratio of 50.29 and a beta of -0.10. The business’s 50-day moving average price is $3.72 and its 200-day moving average price is $4.09.

Sono-Tek (NASDAQ:SOTKGet Free Report) last released its quarterly earnings results on Monday, January 13th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 expect that Sono-Tek Co. will post 0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Northern Trust Corp raised its holdings in Sono-Tek by 58.8% during the fourth quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company’s stock valued at $165,000 after acquiring an additional 15,212 shares during the period. Bard Associates Inc. grew its position in shares of Sono-Tek by 5.6% during the fourth quarter. Bard Associates Inc. now owns 56,431 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 3,006 shares in the last quarter. Geode Capital Management LLC raised its stake in Sono-Tek by 11.5% during the 3rd quarter. Geode Capital Management LLC now owns 125,355 shares of the industrial products company’s stock valued at $505,000 after purchasing an additional 12,900 shares during the period. Finally, Signature Estate & Investment Advisors LLC purchased a new position in Sono-Tek in the 4th quarter worth approximately $3,101,000. Institutional investors own 47.89% of the company’s stock.

About Sono-Tek

(Get Free Report)

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.

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