Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) Sees Significant Increase in Short Interest

Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) was the recipient of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 45,360 shares, an increase of 67.7% from the May 14th total of 27,047 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 165,199 shares, the days-to-cover ratio is currently 0.3 days.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Sonoma Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Sonoma Pharmaceuticals presently has an average rating of “Sell”.

Sonoma Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ:SNOA traded down $0.01 during trading on Tuesday, hitting $1.10. 92,468 shares of the company traded hands, compared to its average volume of 117,253. The stock has a market capitalization of $5.29 million, a price-to-earnings ratio of -0.54 and a beta of 1.29. The business’s fifty day moving average is $1.46 and its 200-day moving average is $2.52. Sonoma Pharmaceuticals has a one year low of $0.85 and a one year high of $6.92.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sonoma Pharmaceuticals stock. DRW Securities LLC lifted its stake in Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) by 257.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,977 shares of the company’s stock after acquiring an additional 43,907 shares during the quarter. DRW Securities LLC owned approximately 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 currently owned by institutional investors and hedge funds.

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.