Sono-Tek’s (SOTK) Outperform Rating Reiterated at Northland Securities

Northland Securities reiterated their outperform rating on shares of Sono-Tek (NASDAQ:SOTK) in a research note released on Tuesday morning,Benzinga reports. Northland Securities currently has a $7.50 target price on the industrial products company’s stock, down from their previous target price of $10.00.

Sono-Tek Stock Performance

Sono-Tek stock opened at $3.87 on Tuesday. The firm has a market cap of $60.95 million, a price-to-earnings ratio of 43.00 and a beta of -0.20. The firm has a 50 day moving average price of $4.40 and a two-hundred day moving average price of $4.22. Sono-Tek has a 52-week low of $3.50 and a 52-week high of $6.12.

Sono-Tek (NASDAQ:SOTK) last issued its 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 9.20% and a net margin of 7.36%. As a group, equities research analysts predict that Sono-Tek will post 0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sono-Tek stock. Bard Associates Inc. lifted its holdings in Sono-Tek Co. (NASDAQ:SOTK) by 29.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,425 shares of the industrial products company’s stock after buying an additional 12,220 shares during the period. Bard Associates Inc. owned approximately 0.34% of Sono-Tek worth $215,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 47.89% of the company’s stock.

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.