NovaBay Pharmaceuticals (NYSE:NBY) Trading Down 4.3% – Time to Sell?

Shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) dropped 4.3% during trading on Thursday . The company traded as low as $0.70 and last traded at $0.72. Approximately 312,994 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,027,167 shares. The stock had previously closed at $0.75.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of NovaBay Pharmaceuticals in a research note on Friday. They set a “hold” rating on the stock.

NovaBay Pharmaceuticals Stock Up 4.7 %

The firm has a market capitalization of $3.67 million, a P/E ratio of -0.01 and a beta of 0.75. The business’s 50 day moving average is $0.59 and its 200-day moving average is $1.75.

NovaBay Pharmaceuticals (NYSE:NBY) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($1.37) earnings per share (EPS) for the quarter. NovaBay Pharmaceuticals had a negative net margin of 91.86% and a negative return on equity of 744.33%. The business had revenue of $2.40 million during the quarter. Research analysts forecast that NovaBay Pharmaceuticals, Inc. will post -1.41 EPS for the current fiscal year.

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.