Sonoma Pharmaceuticals (NASDAQ:SNOA) Announces Earnings Results, Beats Expectations By $0.32 EPS

Sonoma Pharmaceuticals (NASDAQ:SNOA) released its earnings results on Thursday. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.30) by $0.32, Zacks reports. Sonoma Pharmaceuticals had a negative return on equity of 26.32% 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 Stock Up 15.2%

Shares of SNOA traded up $0.19 during mid-day trading on Friday, hitting $1.44. 1,061,936 shares of the company’s stock were exchanged, compared to its average volume of 121,746. Sonoma Pharmaceuticals has a 52 week low of $0.85 and a 52 week high of $6.92. The stock’s 50-day simple moving average is $1.18 and its 200-day simple moving average is $1.89. The firm has a market cap of $6.89 million, a price-to-earnings ratio of -1.18 and a beta of 1.28.

Institutional Investors Weigh In On Sonoma Pharmaceuticals

A hedge fund recently raised its stake in Sonoma Pharmaceuticals stock. DRW Securities LLC boosted its stake in shares of Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) by 257.2% during the fourth quarter, according to the company in its most recent filing 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 period. DRW Securities LLC owned 3.59% of Sonoma Pharmaceuticals worth $222,000 at the end of the most recent reporting period. 1.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sonoma Pharmaceuticals in a report on Friday, July 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average 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.