StockNews.com Initiates Coverage on NovaBay Pharmaceuticals (NYSE:NBY)

StockNews.com began coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research report sent to investors on Monday. The firm issued a sell rating on the stock.

NovaBay Pharmaceuticals Stock Performance

NYSE:NBY opened at $0.08 on Monday. The company has a market capitalization of $2.93 million, a P/E ratio of -0.02 and a beta of 1.97. NovaBay Pharmaceuticals has a 12 month low of $0.07 and a 12 month high of $1.95. The business’s 50-day moving average is $0.13 and its 200 day 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 (EPS) for the quarter. NovaBay Pharmaceuticals had a negative net margin of 65.46% and a negative return on equity of 150.14%. The company had revenue of $3.73 million for the quarter. On average, research analysts forecast that NovaBay Pharmaceuticals will post -0.41 earnings per share 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 acquired a new stake in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 reporting period. 23.25% of the stock is 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.