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

StockNews.com began coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research note issued to investors on Tuesday. The brokerage issued a sell rating on the stock.

NovaBay Pharmaceuticals Price Performance

NovaBay Pharmaceuticals stock opened at $0.08 on Tuesday. The firm has a market cap of $2.84 million, a price-to-earnings ratio of -0.02 and a beta of 1.97. The business’s 50-day moving average price is $0.12 and its 200 day moving average price is $0.21. NovaBay Pharmaceuticals has a 52 week low of $0.07 and a 52 week high of $1.42.

NovaBay Pharmaceuticals (NYSE:NBY) last issued its quarterly earnings results on Tuesday, March 26th. The company reported ($0.95) earnings per share (EPS) for the quarter. The business had revenue of $3.73 million for the quarter. NovaBay Pharmaceuticals had a negative return on equity of 150.14% and a negative net margin of 65.46%. Equities 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 stake in NovaBay Pharmaceuticals, Inc. (NYSE:NBY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 718,768 shares of the company’s stock, valued at approximately $147,000. Armistice Capital LLC owned approximately 11.01% of NovaBay Pharmaceuticals at the end of the most recent reporting period. 23.25% of the stock is owned by hedge funds and other institutional investors.

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.