Short Interest in Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) Declines By 96.4%

Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totaling 27,047 shares, a drop of 96.4% from the April 30th total of 751,721 shares. Based on an average trading volume of 106,890 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.6% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

Institutional Trading of Sonoma Pharmaceuticals

A hedge fund recently raised its stake in Sonoma Pharmaceuticals stock. DRW Securities LLC boosted its position in Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) by 257.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,977 shares of the company’s stock after purchasing an additional 43,907 shares during the quarter. DRW Securities LLC owned about 3.59% of Sonoma Pharmaceuticals worth $222,000 as of its most recent filing with the Securities and Exchange Commission. 1.95% of the stock is owned by hedge funds and other institutional investors.

Sonoma Pharmaceuticals Price Performance

NASDAQ:SNOA traded up $0.05 during trading hours on Friday, reaching $1.16. 147,525 shares of the company traded hands, compared to its average volume of 119,758. The firm’s 50-day moving average is $1.75 and its 200-day moving average is $2.71. The stock has a market cap of $5.53 million, a P/E ratio of -0.57 and a beta of 1.28. Sonoma Pharmaceuticals has a 1-year low of $0.85 and a 1-year high of $6.92.

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.