Sono-Tek (NASDAQ:SOTK) Receives New Coverage from Analysts at Northland Securities

Northland Securities initiated coverage on shares of Sono-Tek (NASDAQ:SOTKGet Rating) in a report published on Monday, The Fly reports. The firm issued an outperform rating and a $8.00 price objective on the industrial products company’s stock.

Separately, TheStreet cut Sono-Tek from a b rating to a c+ rating in a research note on Tuesday, July 19th.

Sono-Tek Price Performance

Shares of NASDAQ:SOTK opened at $7.22 on Monday. The firm’s 50 day simple moving average is $5.99 and its 200 day simple moving average is $6.03. Sono-Tek has a fifty-two week low of $3.42 and a fifty-two week high of $9.49. The company has a market capitalization of $113.56 million, a price-to-earnings ratio of 72.21 and a beta of 0.02.

Sono-Tek (NASDAQ:SOTKGet Rating) last posted its earnings results on Friday, July 15th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter. Sono-Tek had a return on equity of 11.83% and a net margin of 9.02%. The business had revenue of $4.05 million during the quarter.

Hedge Funds Weigh In On Sono-Tek

Several hedge funds have recently made changes to their positions in SOTK. Acadian Asset Management LLC bought a new position in shares of Sono-Tek during the 4th quarter worth approximately $134,000. O Shaughnessy Asset Management LLC bought a new position in shares of Sono-Tek during the 4th quarter worth approximately $78,000. Focused Wealth Management Inc grew its stake in shares of Sono-Tek by 12.0% during the 1st quarter. Focused Wealth Management Inc now owns 16,790 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 1,798 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Sono-Tek during the 1st quarter worth approximately $69,000. Finally, Coombe Bender & Co LLC bought a new position in shares of Sono-Tek in the second quarter valued at $102,000. 3.73% of the stock is owned by institutional investors.

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 nozzles and generators for manufacturers' equipment.

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