NovaBay Pharmaceuticals (NYSE:NBY) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a report published on Saturday. The brokerage issued a hold rating on the stock.

NovaBay Pharmaceuticals Stock Performance

Shares of NBY opened at $0.47 on Friday. The business’s fifty day moving average price is $0.96 and its two-hundred day moving average price is $2.64. The firm has a market capitalization of $2.32 million, a price-to-earnings ratio of 0.00 and a beta of 0.73. NovaBay Pharmaceuticals has a 52 week low of $0.36 and a 52 week high of $19.57.

NovaBay Pharmaceuticals (NYSE:NBY) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($1.37) earnings per share (EPS) for the quarter. The firm had revenue of $2.40 million during the quarter. NovaBay Pharmaceuticals had a negative net margin of 91.86% and a negative return on equity of 744.33%. As a group, research analysts forecast that NovaBay Pharmaceuticals will post -0.17 EPS 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 purchased a new position in NovaBay Pharmaceuticals, Inc. (NYSE:NBY) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm 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 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.