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Sono-Tek Corporation (SOTK) Soars 7.4%: Is Further Upside Left in the Stock?

Zacks Equity Research
·2-min read

Sono-Tek Corporation (SOTK) shares rallied 7.4% in the last trading session to close at $5.37. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.8% loss over the past four weeks.

Sono-Tek extended its rally, driven by solid momentum across the industrial market. Further, strength in its fluxing system owing to growing deployment of SelectaFlux X2, is a major positive. Additionally, growing footprint in the United States and Latin America, is a tailwind.

This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of -75%. Revenues are expected to be $4 million, down 20% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Sono-Tek Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SOTK going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Sono-Tek Corporation is part of the Zacks Electronics - Semiconductors industry. Ambarella (AMBA), another stock in the same industry, closed the last trading session 0.1% lower at $68.21. AMBA has returned -13.8% in the past month.

For Ambarella , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.20. This represents a change of -145.5% from what the company reported a year ago. Ambarella currently has a Zacks Rank of #3 (Hold).

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Zacks Investment Research