NovaBay Pharmaceuticals (NYSE:NBY) Stock Price Down 3.1%

NovaBay Pharmaceuticals, Inc. (NYSE:NBY) was down 3.1% on Tuesday . The company traded as low as $2.15 and last traded at $2.17. Approximately 18,112 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 202,776 shares. The stock had previously closed at $2.24.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on NovaBay Pharmaceuticals in a report on Monday, June 10th. They set a “hold” rating for the company.

NovaBay Pharmaceuticals Stock Down 3.1 %

The company has a market capitalization of $2.34 million, a P/E ratio of -0.02 and a beta of 0.83. The company’s 50-day simple moving average is $3.18 and its 200 day simple moving average is $4.52.

NovaBay Pharmaceuticals (NYSE:NBY) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($4.90) EPS 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 $2.63 million for the quarter. As a group, equities research analysts forecast that NovaBay Pharmaceuticals, Inc. will post -5.24 earnings per share for the current year.

Hedge Funds Weigh In On NovaBay Pharmaceuticals

A hedge fund recently bought a new stake in NovaBay Pharmaceuticals stock. Armistice Capital LLC acquired a new position in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 718,768 shares of the company’s stock, valued at approximately $147,000. Armistice Capital LLC owned about 11.01% of NovaBay Pharmaceuticals at the end of the most recent reporting period. 23.25% of the stock is 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.