Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) Sees Large Growth in Short Interest

Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 201,048 shares, a growth of 2,279.8% from the July 30th total of 8,448 shares. Currently, 4.2% of the company’s shares are sold short. Based on an average daily trading volume, of 399,785 shares, the days-to-cover ratio is presently 0.5 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Sonoma Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Sonoma Pharmaceuticals

An institutional investor recently bought a new position in Sonoma Pharmaceuticals stock. McKinley Carter Wealth Services Inc. bought a new position in shares of Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,193 shares of the company’s stock, valued at approximately $41,000. McKinley Carter Wealth Services Inc. owned about 0.66% of Sonoma Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 1.95% of the company’s stock.

Sonoma Pharmaceuticals Stock Performance

NASDAQ SNOA traded up $0.01 during trading on Tuesday, hitting $1.35. The stock had a trading volume of 47,340 shares, compared to its average volume of 135,611. Sonoma Pharmaceuticals has a one year low of $0.85 and a one year high of $4.87. The stock has a 50 day simple moving average of $1.22 and a 200 day simple moving average of $1.72. The stock has a market capitalization of $6.47 million, a price-to-earnings ratio of -1.11 and a beta of 1.28.

Sonoma Pharmaceuticals (NASDAQ:SNOA) last released its earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.32. Sonoma Pharmaceuticals had a negative return on equity of 21.41% and a negative net margin of 10.33%.The firm had revenue of $6.41 million for the quarter, compared to analysts’ expectations of $4.99 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.