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

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

NovaBay Pharmaceuticals Stock Performance

Shares of NYSE NBY opened at $0.47 on Friday. NovaBay Pharmaceuticals has a fifty-two week low of $0.36 and a fifty-two week high of $19.57. The stock has a market cap of $2.32 million, a price-to-earnings ratio of 0.00 and a beta of 0.73. The firm’s 50-day simple moving average is $0.96 and its 200 day simple moving average is $2.62.

NovaBay Pharmaceuticals (NYSE:NBY) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($1.37) earnings per share for the quarter. NovaBay Pharmaceuticals had a negative net margin of 91.86% and a negative return on equity of 744.33%. The business had revenue of $2.40 million during the quarter. On average, sell-side analysts predict that NovaBay Pharmaceuticals will post -0.17 EPS for the current year.

Institutional Investors 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 NovaBay Pharmaceuticals, Inc. (NYSE:NBY) in the 4th quarter, according to the company in its most recent filing with the SEC. 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 as of its most recent filing with the SEC. Institutional investors own 23.25% of the company’s stock.

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.