Short Interest in Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) Grows By 4,565.6%

Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totaling 751,721 shares, an increase of 4,565.6% from the April 15th total of 16,112 shares. Approximately 44.5% of the company’s stock are sold short. Based on an average trading volume of 627,214 shares, the days-to-cover ratio is currently 1.2 days.

Hedge Funds Weigh In On Sonoma Pharmaceuticals

A hedge fund recently raised its stake in Sonoma Pharmaceuticals stock. DRW Securities LLC boosted its position in shares of Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) by 257.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,977 shares of the company’s stock after acquiring an additional 43,907 shares during the period. DRW Securities LLC owned approximately 3.59% of Sonoma Pharmaceuticals worth $222,000 at the end of the most recent quarter. Institutional investors own 1.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Sonoma Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Sonoma Pharmaceuticals currently has a consensus rating of “Sell”.

Sonoma Pharmaceuticals Stock Performance

Shares of SNOA traded down $0.04 during mid-day trading on Wednesday, hitting $1.15. The company’s stock had a trading volume of 24,206 shares, compared to its average volume of 114,936. Sonoma Pharmaceuticals has a one year low of $0.85 and a one year high of $6.92. The firm has a market capitalization of $1.98 million, a PE ratio of -0.56 and a beta of 1.28. The stock’s 50-day moving average is $2.10 and its two-hundred day moving average is $2.94.

Sonoma Pharmaceuticals (NASDAQ:SNOA) last posted its quarterly earnings data on Tuesday, February 10th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.06). Sonoma Pharmaceuticals had a negative net margin of 19.04% and a negative return on equity of 42.56%. The business had revenue of $4.35 million during the quarter, compared to the consensus estimate of $5.47 million.

Sonoma Pharmaceuticals Company Profile

Sonoma Pharmaceuticals, Inc is a specialty dermatology company focused on developing and commercializing topical prescription and over-the-counter products for inflammatory and infectious skin conditions. Publicly traded on Nasdaq under the symbol SNOA, the company concentrates its efforts on areas such as acne, rosacea, dermatitis and wound care, aiming to provide physicians and patients with innovative treatment options.

At the heart of Sonoma’s technology platform lies its proprietary Triphasic drug delivery system, which enables the timed release of active ingredients through three distinct gel phases.