Sono-Tek Co. (NASDAQ:SOTK) Director Sells $16,488.96 in Stock

Sono-Tek Co. (NASDAQ:SOTK – Get Rating) Director Joseph Riemer sold 2,712 shares of the business’s stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $6.08, for a total transaction of $16,488.96. Following the completion of the transaction, the director now owns 42,306 shares of the company’s stock, valued at $257,220.48. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Sono-Tek Stock Performance

Shares of Sono-Tek stock traded down $0.35 during trading on Monday, reaching $5.74. 7,247 shares of the company’s stock were exchanged, compared to its average volume of 4,532. Sono-Tek Co. has a 1-year low of $4.01 and a 1-year high of $8.10. The company has a market cap of $90.36 million, a P/E ratio of 76.13 and a beta of -0.25. The firm’s 50-day moving average price is $6.19 and its 200 day moving average price is $6.41.

Wall Street Analysts Forecast Growth

Separately, Northland Securities lifted their price objective on shares of Sono-Tek from $8.00 to $10.00 in a research note on Wednesday, October 19th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Modera Wealth Management LLC bought a new position in shares of Sono-Tek in the third quarter worth about $1,373,000. Vanguard Group Inc. increased its position in Sono-Tek by 85.1% during the 3rd quarter. Vanguard Group Inc. now owns 293,872 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 135,076 shares in the last quarter. Coombe Bender & Co LLC bought a new position in Sono-Tek in the 2nd quarter valued at approximately $102,000. O Shaughnessy Asset Management LLC bought a new position in Sono-Tek in the 2nd quarter valued at approximately $82,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Sono-Tek in the first quarter valued at approximately $69,000. Institutional investors own 6.12% of the company’s stock.

Sono-Tek Company Profile

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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.