Sono-Tek Co. (NASDAQ:SOTK) Short Interest Update

Sono-Tek Co. (NASDAQ:SOTK – Get Rating) was the target of a large decline in short interest in April. As of April 30th, there was short interest totalling 25,100 shares, a decline of 25.7% from the April 15th total of 33,800 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 26,900 shares, the days-to-cover ratio is currently 0.9 days.

Separately, Zacks Investment Research upgraded shares of Sono-Tek from a “sell” rating to a “hold” rating in a report on Tuesday, April 19th.

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP purchased a new position in shares of Sono-Tek in the first quarter worth approximately $69,000. Focused Wealth Management Inc grew its position in Sono-Tek by 12.0% during the first quarter. Focused Wealth Management Inc now owns 16,790 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 1,798 shares in the last quarter. Millennium Management LLC purchased a new position in Sono-Tek during the fourth quarter valued at approximately $227,000. O Shaughnessy Asset Management LLC purchased a new position in Sono-Tek during the fourth quarter valued at approximately $78,000. Finally, Acadian Asset Management LLC purchased a new position in Sono-Tek during the fourth quarter valued at approximately $134,000. 57.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of Sono-Tek stock traded up $0.17 during trading on Wednesday, hitting $5.79. The stock had a trading volume of 22 shares, compared to its average volume of 6,826. The stock has a 50 day simple moving average of $5.94 and a 200 day simple moving average of $6.29. The company has a market capitalization of $91.02 million, a PE ratio of 37.44 and a beta of 0.36. Sono-Tek has a 1 year low of $2.67 and a 1 year high of $9.49.

About Sono-Tek (Get Rating)

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. It also designs and manufactures custom-engineered ultrasonic coating systems; and provides patented nozzles and generators for manufacturers' equipment.

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