NovaBay Pharmaceuticals (NYSE:NBY) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a report published on Saturday morning. The firm issued a hold rating on the stock.

NovaBay Pharmaceuticals Stock Up 8.5 %

Shares of NBY stock opened at $0.53 on Friday. NovaBay Pharmaceuticals has a fifty-two week low of $0.36 and a fifty-two week high of $17.74. The stock has a market cap of $573,351.80, a P/E ratio of 0.00 and a beta of 0.73. The business has a fifty day simple moving average of $0.89 and a 200-day simple moving average of $2.55.

NovaBay Pharmaceuticals (NYSE:NBY) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($1.37) earnings per share for the quarter. NovaBay Pharmaceuticals had a negative net margin of 91.86% and a negative return on equity of 744.33%. The firm had revenue of $2.40 million during the quarter. On average, sell-side analysts anticipate that NovaBay Pharmaceuticals will post -0.17 earnings per share for the current year.

Institutional Trading of NovaBay Pharmaceuticals

A hedge fund recently bought a new stake in NovaBay Pharmaceuticals stock. Armistice Capital LLC acquired a new stake in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 718,768 shares of the company’s stock, valued at approximately $147,000. Armistice Capital LLC owned about 11.01% of NovaBay Pharmaceuticals as of its most recent SEC filing. 23.25% of the stock is currently owned by institutional investors.

About NovaBay Pharmaceuticals

NovaBay Pharmaceuticals, Inc, a biopharmaceutical company, develops and sells eyecare, skincare, and wound care products in the United States and internationally. It offers Avenova Spray, a solution for removing foreign materials, including microorganisms and debris from skin around the eye, such as the eyelid; and wound care products, which are used for cleansing and irrigation as part of surgical procedures, as well as treating certain wounds, burns, ulcers, and other injuries under the NeutroPhase and PhaseOne brands.