StockNews.com Begins Coverage on NovaBay Pharmaceuticals (NYSE:NBY)

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

NovaBay Pharmaceuticals Stock Down 2.1 %

NBY opened at $0.69 on Friday. The firm has a market cap of $746,580.00, a P/E ratio of -0.01 and a beta of 0.73. The business’s fifty day simple moving average is $0.71 and its 200 day simple moving average is $2.38. NovaBay Pharmaceuticals has a 52 week low of $0.36 and a 52 week high of $17.74.

NovaBay Pharmaceuticals (NYSE:NBY) last released its earnings results on Tuesday, August 13th. The company reported ($1.37) EPS for the quarter. The firm had revenue of $2.40 million during the quarter. NovaBay Pharmaceuticals had a negative return on equity of 744.33% and a negative net margin of 91.86%. As a group, equities analysts expect that NovaBay Pharmaceuticals will post -0.17 EPS for the current fiscal year.

Institutional Trading of NovaBay Pharmaceuticals

A hedge fund recently bought a new stake in NovaBay Pharmaceuticals stock. Armistice Capital LLC acquired a new position in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 718,768 shares of the company’s stock, valued at approximately $147,000. Armistice Capital LLC owned 11.01% of NovaBay Pharmaceuticals at the end of the most recent reporting period. 23.25% of the stock is owned by institutional investors.

NovaBay Pharmaceuticals Company Profile

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.