NovaBay Pharmaceuticals (NYSE:NBY) Now Covered by StockNews.com

Posted by Donna Armstrong on Apr 17th, 2024

Investment analysts at StockNews.com started coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY – Get Free Report) in a report issued on Monday. The firm set a “sell” rating on the stock.

NovaBay Pharmaceuticals Price Performance

NYSE NBY opened at $0.08 on Monday. The stock has a market cap of $2.84 million, a PE ratio of -0.02 and a beta of 1.97. NovaBay Pharmaceuticals has a fifty-two week low of $0.07 and a fifty-two week high of $1.95. The business has a 50 day moving average price of $0.13 and a two-hundred day moving average price of $0.23.

NovaBay Pharmaceuticals (NYSE:NBY – Get Free Report) last announced its earnings results on Tuesday, March 26th. The company reported ($0.95) earnings per share (EPS) for the quarter. NovaBay Pharmaceuticals had a negative net margin of 65.46% and a negative return on equity of 150.14%. The business had revenue of $3.73 million during the quarter. Sell-side analysts anticipate that NovaBay Pharmaceuticals will post -0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On NovaBay Pharmaceuticals

An institutional investor recently bought a new position in NovaBay Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 718,768 shares of the company’s stock, valued at approximately $147,000. Armistice Capital LLC owned approximately 11.01% of NovaBay Pharmaceuticals at the end of the most recent quarter. 23.25% of the stock is currently owned by hedge funds and other institutional investors.

NovaBay Pharmaceuticals Company Profile

(Get Free Report)

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.