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

Stock analysts at StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a report issued on Thursday. The brokerage set a “sell” rating on the stock.

NovaBay Pharmaceuticals Stock Performance

NYSE:NBY opened at $0.09 on Thursday. NovaBay Pharmaceuticals has a 52 week low of $0.07 and a 52 week high of $1.28. The firm has a 50-day moving average price of $0.11 and a two-hundred day moving average price of $0.19. The firm has a market cap of $3.21 million, a price-to-earnings ratio of -0.02 and a beta of 2.03.

NovaBay Pharmaceuticals (NYSE:NBY) last issued 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 firm had revenue of $3.73 million during the quarter. As a group, sell-side analysts forecast that NovaBay Pharmaceuticals will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On NovaBay Pharmaceuticals

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

NovaBay Pharmaceuticals Company Profile

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.