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

StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a report released on Monday. The brokerage set a “hold” rating on the stock.

NovaBay Pharmaceuticals Stock Performance

NovaBay Pharmaceuticals stock opened at $0.70 on Monday. The stock has a fifty day moving average of $0.60 and a two-hundred day moving average of $2.25. The company has a market capitalization of $756,101.60, a price-to-earnings ratio of -0.01 and a beta of 0.73. NovaBay Pharmaceuticals has a fifty-two week low of $0.36 and a fifty-two week high of $16.10.

NovaBay Pharmaceuticals (NYSE:NBY) last issued its earnings results on Tuesday, August 13th. The company reported ($1.37) earnings per share for the quarter. The firm had revenue of $2.40 million during the quarter. NovaBay Pharmaceuticals had a negative net margin of 91.86% and a negative return on equity of 744.33%. On average, analysts forecast that NovaBay Pharmaceuticals will post -0.17 EPS for the current fiscal year.

Institutional Trading of NovaBay Pharmaceuticals

A hedge fund recently bought a new stake in NovaBay Pharmaceuticals stock. Armistice Capital LLC bought a new position in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) during the fourth quarter, according to its most recent Form 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 as of its most recent SEC filing. Institutional investors own 23.25% of the company’s stock.

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.