Sono-Tek (NASDAQ:SOTK) Posts Earnings Results, Hits Estimates

Sono-Tek (NASDAQ:SOTK – Get Rating) released its quarterly earnings results on Thursday. The industrial products company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01, Yahoo Finance reports. The firm had revenue of $3.66 million for the quarter, compared to analysts’ expectations of $4.00 million. Sono-Tek had a net margin of 6.88% and a return on equity of 7.97%. During the same quarter in the prior year, the firm posted $0.04 earnings per share.

Sono-Tek Price Performance

NASDAQ SOTK traded up $0.22 during trading on Friday, reaching $5.47. The company’s stock had a trading volume of 871 shares, compared to its average volume of 7,161. The stock has a market capitalization of $86.10 million, a PE ratio of 65.76 and a beta of -0.24. The firm has a fifty day moving average of $5.25 and a 200 day moving average of $5.72. Sono-Tek has a one year low of $4.64 and a one year high of $8.10.

Hedge Funds Weigh In On Sono-Tek

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP purchased a new stake in shares of Sono-Tek in the 1st quarter valued at $69,000. BlackRock Inc. raised its holdings in Sono-Tek by 11.3% in the 3rd quarter. BlackRock Inc. now owns 17,459 shares of the industrial products company’s stock worth $122,000 after purchasing an additional 1,769 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Sono-Tek by 85.1% in the third quarter. Vanguard Group Inc. now owns 293,872 shares of the industrial products company’s stock worth $2,063,000 after buying an additional 135,076 shares during the period. Hedge funds and other institutional investors own 6.12% of the company’s stock.

About Sono-Tek

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Sono-Tek Corp. engages in the design and manufacture of ultrasonic coating systems. The firm also provides patented nozzles and generators for manufacturers equipment. Its products categories include electronics, energy, medical, glass, food, textiles, nanotechnology, and industrial. The company was founded by Harvey L.