Why Is Sonoma Pharmaceuticals Stock (SNOA) Up 105% Today?
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Amy Trombly, CEO of Sonoma, said, 'We are excited to see our strategy of expanding into the over-the-counter space begin to take hold with our first U.S. product targeted to consumers launched into large scale retail channels. We are also pleased about the increased availability of our Microcyn technology for consumers who seek safe and effective solutions for diaper rash and other skin irritations.'
Sonoma Pharmaceuticals stock was up 103.8% in pre-market trading on Thursday, following a 1.73% rally yesterday. The shares were also up 13.46% year-to-date but have fallen 35.04% over the past 12 months. Today's news brought heavy trading to SNOA stock, with some 42 million shares traded, compared to a three-month daily average of about 84,000 units.
Is Sonoma Pharmaceuticals Stock a Buy, Sell, or Hold?
Turning to Wall Street, coverage of Sonoma Pharmaceuticals is lacking. Fortunately, TipRanks AI analyst Spark has it covered. Spark rates SNOA stock a Neutral (46) with a $3 price target. It cites 'poor financial performance characterized by declining revenues and negative cash flows' as reasons for this stance.
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