Sono-Tek (NASDAQ:SOTK) Upgraded by Zacks Investment Research to “Hold”

Sono-Tek (NASDAQ:SOTKGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Sono-Tek Corporation is a developer and manufacturer of ultrasonic coating systems for applying precise, thin film coatings for the microelectronics/electronics, alternative energy, medical and industrial markets, including specialized glass applications in construction and automotive. Sono-Tek Corporation is based in MILTON, N.Y. “

SOTK stock traded up $0.02 during trading on Tuesday, hitting $6.40. The stock had a trading volume of 7 shares, compared to its average volume of 36,697. The company’s 50 day moving average price is $5.74 and its two-hundred day moving average price is $6.24. Sono-Tek has a 1-year low of $2.67 and a 1-year high of $9.49. The stock has a market cap of $100.61 million, a price-to-earnings ratio of 42.67, a price-to-earnings-growth ratio of 3.29 and a beta of 0.27.

In other news, Director Joseph Riemer bought 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 8th. The stock was purchased at an average price of $5.21 per share, with a total value of $31,260.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.83% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SOTK. O Shaughnessy Asset Management LLC acquired a new position in shares of Sono-Tek during the 4th quarter valued at about $78,000. Acadian Asset Management LLC acquired a new position in shares of Sono-Tek during the 4th quarter valued at about $134,000. First Republic Investment Management Inc. acquired a new position in shares of Sono-Tek during the 3rd quarter valued at about $175,000. Millennium Management LLC acquired a new position in shares of Sono-Tek during the 4th quarter valued at about $227,000. Finally, ARS Investment Partners LLC acquired a new position in shares of Sono-Tek during the 3rd quarter valued at about $333,000. 55.44% of the stock is owned by institutional investors.

Sono-Tek Company Profile (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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