Sono-Tek (NASDAQ:SOTK) Stock Crosses Below 200-Day Moving Average – What’s Next?

Sono-Tek Corporation (NASDAQ:SOTK) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.87 and traded as low as $3.61. Sono-Tek shares last traded at $3.81, with a volume of 12,242 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Zacks Research upgraded Sono-Tek from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Sono-Tek in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Sono-Tek Trading Up 0.8%

The firm has a 50-day moving average of $4.27 and a two-hundred day moving average of $3.87. The firm has a market capitalization of $59.86 million, a P/E ratio of 38.10 and a beta of -0.27.

Sono-Tek (NASDAQ:SOTK) last issued its earnings results on Tuesday, October 14th. The industrial products company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Sono-Tek had a return on equity of 8.38% and a net margin of 7.33%.The firm had revenue of $5.16 million during the quarter, compared to the consensus estimate of $5.25 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. On average, sell-side analysts anticipate that Sono-Tek Corporation will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Christopher L. Coccio sold 12,320 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $4.78, for a total value of $58,889.60. Following the completion of the transaction, the director owned 309,447 shares of the company’s stock, valued at $1,479,156.66. This represents a 3.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sono-Tek stock. Dimensional Fund Advisors LP raised its position in Sono-Tek Corporation (NASDAQ:SOTK) by 29.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,773 shares of the industrial products company’s stock after purchasing an additional 4,305 shares during the quarter. Dimensional Fund Advisors LP owned 0.12% of Sono-Tek worth $84,000 as of its most recent SEC filing. 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.