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

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

NovaBay Pharmaceuticals Stock Performance

NYSE NBY opened at $0.08 on Tuesday. NovaBay Pharmaceuticals has a 52-week low of $0.07 and a 52-week high of $1.52. The company has a market capitalization of $2.74 million, a P/E ratio of -0.02 and a beta of 1.97. The company has a fifty day moving average of $0.12 and a 200-day moving average of $0.21.

NovaBay Pharmaceuticals (NYSE:NBY) last posted its quarterly earnings data on Tuesday, March 26th. The company reported ($0.95) earnings per share (EPS) for the quarter. NovaBay Pharmaceuticals had a negative return on equity of 150.14% and a negative net margin of 65.46%. The company had revenue of $3.73 million for the quarter. As a group, analysts forecast that NovaBay Pharmaceuticals will post -0.41 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 purchased a new position in NovaBay Pharmaceuticals, Inc. (NYSE:NBY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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 SEC filing. 23.25% of the stock is currently owned by institutional investors and hedge funds.

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.