Sono-Tek (NASDAQ:SOTK) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Sono-Tek Co. (NASDAQ:SOTK) passed 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 Analysts Forecast Growth

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

Sono-Tek Stock Performance

The stock has a fifty day moving average of $4.34 and a 200-day moving average of $4.21. The firm has a market capitalization of $60.95 million, a price-to-earnings ratio of 55.29 and a beta of -0.20.

Sono-Tek (NASDAQ:SOTK) last issued its quarterly earnings results 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 forecast that Sono-Tek Co. will post 0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sono-Tek

An institutional investor recently raised its position in Sono-Tek stock. Bard Associates Inc. raised its position in shares of Sono-Tek Co. (NASDAQ:SOTK) by 29.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 0.34% of Sono-Tek worth $215,000 at the end of the most recent 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.