NovaBay Pharmaceuticals (NYSE:NBY) Coverage Initiated by Analysts at StockNews.com

Posted by Stacy Sanders on Aug 18th, 2024

StockNews.com began coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY – Free Report) in a research note released on Thursday. The firm issued a hold rating on the stock.

NovaBay Pharmaceuticals Price Performance

NBY stock opened at $0.54 on Thursday. NovaBay Pharmaceuticals has a 1-year low of $0.36 and a 1-year high of $44.80. The company has a market capitalization of $582,116.00, a price-to-earnings ratio of 0.00 and a beta of 0.83. The business has a 50 day simple moving average of $1.71 and a two-hundred day simple moving average of $3.31.

NovaBay Pharmaceuticals (NYSE:NBY – Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($1.37) earnings per share for the quarter. NovaBay Pharmaceuticals had a negative return on equity of 304.39% and a negative net margin of 80.76%. The business had revenue of $2.40 million during the quarter. Sell-side analysts anticipate that NovaBay Pharmaceuticals will post -5.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in NovaBay Pharmaceuticals stock. Armistice Capital LLC bought a new stake in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 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 filing with the Securities and Exchange Commission. Institutional investors own 23.25% of the company’s stock.

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.