NovaBay Pharmaceuticals (NYSE:NBY) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research note released on Wednesday. The firm issued a sell rating on the stock.

NovaBay Pharmaceuticals Price Performance

Shares of NovaBay Pharmaceuticals stock opened at $0.09 on Wednesday. The firm has a market cap of $3.42 million, a PE ratio of -0.02 and a beta of 2.03. The business has a 50-day moving average price of $0.11 and a 200 day moving average price of $0.20. NovaBay Pharmaceuticals has a twelve month low of $0.07 and a twelve month high of $1.28.

NovaBay Pharmaceuticals (NYSE:NBY) last announced 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 business had revenue of $3.73 million for the quarter. On average, sell-side analysts expect that NovaBay Pharmaceuticals will post -0.41 EPS 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 bought a new position in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 718,768 shares of the company’s stock, valued at approximately $147,000. Armistice Capital LLC owned approximately 11.01% of NovaBay Pharmaceuticals as of its most recent SEC filing. 23.25% of the stock is currently owned by institutional investors and hedge funds.

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.