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

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

NovaBay Pharmaceuticals Stock Performance

NBY stock opened at $0.08 on Tuesday. NovaBay Pharmaceuticals has a 1 year low of $0.07 and a 1 year high of $1.42. The firm has a market cap of $2.84 million, a P/E ratio of -0.02 and a beta of 1.97. The stock’s 50 day moving average price is $0.12 and its 200 day moving average price is $0.21.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in NovaBay Pharmaceuticals stock. Armistice Capital LLC acquired a new position in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 718,768 shares of the company’s stock, valued at approximately $147,000. Armistice Capital LLC owned about 11.01% of NovaBay Pharmaceuticals as of its most recent SEC filing. 23.25% of the stock is currently owned by 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.