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

StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a report issued on Tuesday. The firm issued a sell rating on the stock.

NovaBay Pharmaceuticals Stock Performance

Shares of NovaBay Pharmaceuticals stock opened at $0.08 on Tuesday. NovaBay Pharmaceuticals has a 12-month low of $0.07 and a 12-month high of $1.42. The firm’s 50 day simple moving average is $0.12 and its two-hundred day simple moving average is $0.21.

NovaBay Pharmaceuticals (NYSE:NBY) last released its quarterly earnings data on Tuesday, March 26th. The company reported ($0.95) earnings per share for the quarter. The business had revenue of $3.73 million during the quarter. NovaBay Pharmaceuticals had a negative return on equity of 150.14% and a negative net margin of 65.46%. Sell-side analysts anticipate that NovaBay Pharmaceuticals will post -0.41 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 position in NovaBay Pharmaceuticals, Inc. (NYSE:NBY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 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.