Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) Short Interest Down 96.4% in May

Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) was the recipient of a significant drop in short interest during the month of 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 short-interest ratio is currently 0.3 days. Currently, 0.6% of the shares of the company are sold short.

Sonoma Pharmaceuticals Stock Performance

Shares of NASDAQ:SNOA traded up $0.02 during trading hours on Wednesday, hitting $1.08. The stock had a trading volume of 58,988 shares, compared to its average volume of 137,412. The stock’s fifty day simple moving average is $1.77 and its 200 day simple moving average is $2.73. Sonoma Pharmaceuticals has a 1-year low of $0.85 and a 1-year high of $6.92. The firm has a market capitalization of $5.17 million, a price-to-earnings ratio of -0.53 and a beta of 1.28.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sonoma Pharmaceuticals stock. DRW Securities LLC lifted its stake in shares of Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) by 257.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,977 shares of the company’s stock after acquiring an additional 43,907 shares during the quarter. DRW Securities LLC owned about 3.59% of Sonoma Pharmaceuticals worth $222,000 at the end of the most recent reporting period. 1.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of 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, Based on data from MarketBeat, Sonoma Pharmaceuticals has an average rating of “Sell”.

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.