StockNews.com Begins Coverage on NovaBay Pharmaceuticals (NYSEAMERICAN:NBY)

StockNews.com assumed coverage on shares of NovaBay Pharmaceuticals (NYSEAMERICAN:NBY – Get Rating) in a research report sent to investors on Tuesday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

NovaBay Pharmaceuticals Price Performance

Shares of NBY opened at $0.68 on Tuesday. The firm has a market cap of $1.27 million, a PE ratio of -0.12 and a beta of 2.69. The stock’s fifty day moving average price is $1.32 and its two-hundred day moving average price is $1.59. NovaBay Pharmaceuticals has a 1 year low of $0.65 and a 1 year high of $12.64.

NovaBay Pharmaceuticals (NYSEAMERICAN:NBY – Get Rating) last issued its earnings results on Thursday, March 30th. The biopharmaceutical company reported ($4.33) earnings per share (EPS) for the quarter. The firm had revenue of $3.64 million during the quarter. NovaBay Pharmaceuticals had a negative net margin of 21.09% and a negative return on equity of 18.62%.

Institutional Trading of NovaBay Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Armistice Capital LLC bought a new stake in shares of NovaBay Pharmaceuticals during the 4th quarter valued at $289,000. Altium Capital Management LP bought a new stake in shares of NovaBay Pharmaceuticals during the 3rd quarter valued at $121,000. Renaissance Technologies LLC raised its stake in shares of NovaBay Pharmaceuticals by 103.5% during the 2nd quarter. Renaissance Technologies LLC now owns 409,544 shares of the biopharmaceutical company’s stock valued at $102,000 after purchasing an additional 208,322 shares during the period. Finally, Virtu Financial LLC raised its stake in shares of NovaBay Pharmaceuticals by 260.4% during the 1st quarter. Virtu Financial LLC now owns 163,451 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 118,099 shares during the period.

NovaBay Pharmaceuticals Company Profile

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NovaBay Pharmaceuticals, Inc engages in the development and sales of scientifically-created and clinically-proven eyecare and skincare. Its products include Avenova, NeutroPhase, CelleRx, and DERMAdoctor. The company was founded on January 19, 2000 and is headquartered in Emeryville, CA.