Geode Capital Management LLC Buys 12,900 Shares of Sono-Tek Co. (NASDAQ:SOTK)

Geode Capital Management LLC increased its position in shares of Sono-Tek Co. (NASDAQ:SOTK) by 11.5% during the third quarter, Holdings Channel reports. The institutional investor owned 125,355 shares of the industrial products company’s stock after purchasing an additional 12,900 shares during the quarter. Geode Capital Management LLC’s holdings in Sono-Tek were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Bard Associates Inc. lifted its position in shares of Sono-Tek by 29.7% in the 3rd quarter. Bard Associates Inc. now owns 53,425 shares of the industrial products company’s stock worth $215,000 after acquiring an additional 12,220 shares during the period. Institutional investors own 47.89% of the company’s stock.

Sono-Tek Stock Performance

Shares of SOTK stock opened at $3.92 on Friday. The firm has a fifty day moving average of $4.43 and a 200-day moving average of $4.22. The stock has a market cap of $61.74 million, a price-to-earnings ratio of 43.56 and a beta of -0.20. Sono-Tek Co. has a 52-week low of $3.50 and a 52-week high of $6.12.

Sono-Tek (NASDAQ:SOTK) last posted its quarterly earnings results on Tuesday, October 15th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $5.16 million during the quarter, compared to analyst estimates of $5.23 million. Sono-Tek had a net margin of 7.36% and a return on equity of 9.20%. During the same quarter in the prior year, the business posted $0.03 earnings per share. On average, sell-side analysts predict that Sono-Tek Co. will post 0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Northland Securities restated an “outperform” rating and set a $10.00 price objective on shares of Sono-Tek in a research report on Wednesday, October 16th.

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.