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

StockNews.com began coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a report released on Friday morning. The brokerage issued a hold rating on the stock.

NovaBay Pharmaceuticals Trading Up 2.7 %

NBY stock opened at $0.46 on Friday. The company has a market cap of $2.24 million, a PE ratio of 0.00 and a beta of 0.73. NovaBay Pharmaceuticals has a 12-month low of $0.36 and a 12-month high of $44.80. The stock has a 50-day moving average price of $1.10 and a two-hundred day moving average price of $2.75.

NovaBay Pharmaceuticals (NYSE:NBY) last announced its earnings results on Tuesday, August 13th. The company reported ($1.37) EPS for the quarter. NovaBay Pharmaceuticals had a negative net margin of 91.86% and a negative return on equity of 744.33%. The company had revenue of $2.40 million for the quarter. Equities analysts forecast that NovaBay Pharmaceuticals will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On NovaBay Pharmaceuticals

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