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

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

Wall Street Analysts Forecast Growth

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

NovaBay Pharmaceuticals Stock Performance

The stock has a market cap of $2.35 million, a P/E ratio of -0.02 and a beta of 0.83. The business has a 50-day simple moving average of $3.16 and a 200 day simple moving average of $4.50.

NovaBay Pharmaceuticals (NYSE:NBY) last announced its earnings results on Thursday, May 9th. The company reported ($4.90) EPS for the quarter. NovaBay Pharmaceuticals had a negative net margin of 80.76% and a negative return on equity of 304.39%. The company had revenue of $2.63 million during the quarter. As a group, equities analysts expect that NovaBay Pharmaceuticals, Inc. will post -5.24 earnings per share for the current year.

Institutional Trading of 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) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 quarter. 23.25% of the stock is 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.