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

Sono-Tek Co. (NASDAQ:SOTK) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.12 and traded as low as $3.54. Sono-Tek shares last traded at $3.66, with a volume of 4,693 shares trading hands.

Analyst Ratings Changes

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

Sono-Tek Stock Up 0.5 %

The company has a market capitalization of $57.65 million, a PE ratio of 52.29 and a beta of -0.24. The business has a 50 day simple moving average of $3.78 and a 200 day simple moving average of $4.12.

Sono-Tek (NASDAQ:SOTK) last announced its quarterly earnings data on Monday, January 13th. The industrial products company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Sono-Tek had a net margin of 5.47% and a return on equity of 6.55%. Equities analysts expect that Sono-Tek Co. will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Sono-Tek

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Trust Corp raised its stake in shares of Sono-Tek by 58.8% in the fourth quarter. Northern Trust Corp now owns 41,081 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 15,212 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Sono-Tek in the fourth quarter valued at approximately $3,101,000. Bard Associates Inc. increased its holdings in Sono-Tek by 5.6% in the 4th quarter. Bard Associates Inc. now owns 56,431 shares of the industrial products company’s stock worth $226,000 after buying an additional 3,006 shares during the period. Finally, Geode Capital Management LLC raised its position 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 worth $505,000 after buying an additional 12,900 shares during the last quarter. 47.89% of the stock is currently owned by institutional investors and hedge funds.

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.