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

Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) was the recipient of a significant increase in short interest in the month of 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. Currently, 44.5% of the shares of the company are sold short. Based on an average trading volume of 627,214 shares, the days-to-cover ratio is currently 1.2 days.

Sonoma Pharmaceuticals Trading Down 3.3%

Shares of NASDAQ:SNOA opened at $1.16 on Tuesday. The firm’s 50 day moving average is $2.13 and its two-hundred day moving average is $2.96. Sonoma Pharmaceuticals has a 52 week low of $0.85 and a 52 week high of $6.92. The firm has a market capitalization of $2.01 million, a P/E ratio of -0.57 and a beta of 1.28.

Sonoma Pharmaceuticals (NASDAQ:SNOA) last announced its quarterly earnings results on Tuesday, February 10th. The company reported ($0.35) EPS 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 firm had revenue of $4.35 million during the quarter, compared to analyst estimates of $5.47 million.

Institutional Investors Weigh In On Sonoma Pharmaceuticals

A hedge fund recently bought a new stake in Sonoma Pharmaceuticals stock. McKinley Carter Wealth Services Inc. acquired a new stake in Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,193 shares of the company’s stock, valued at approximately $41,000. McKinley Carter Wealth Services Inc. owned approximately 0.66% of Sonoma Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 1.95% of the company’s stock.

Analysts Set New Price Targets

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

About Sonoma Pharmaceuticals

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.