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

StockNews.com assumed coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a report released on Monday. The brokerage issued a sell rating on the stock.

NovaBay Pharmaceuticals Price Performance

NBY opened at $0.08 on Monday. The firm has a market cap of $2.93 million, a price-to-earnings ratio of -0.02 and a beta of 1.97. NovaBay Pharmaceuticals has a 1 year low of $0.07 and a 1 year high of $1.95. The stock’s 50 day simple moving average is $0.13 and its 200 day simple moving average is $0.22.

NovaBay Pharmaceuticals (NYSE:NBY) last issued its quarterly earnings data on Tuesday, March 26th. The company reported ($0.95) earnings per share for the quarter. The business had revenue of $3.73 million during the quarter. NovaBay Pharmaceuticals had a negative return on equity of 150.14% and a negative net margin of 65.46%. As a group, sell-side analysts anticipate that NovaBay Pharmaceuticals will post -0.41 EPS for the current year.

Institutional Investors Weigh In On NovaBay Pharmaceuticals

A hedge fund recently bought a new stake in NovaBay Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 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 hedge funds and other 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.