NovaBay Pharmaceuticals (NYSE:NBY) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research note published on Friday morning. The firm issued a hold rating on the stock.

NovaBay Pharmaceuticals Stock Down 4.9 %

NBY stock opened at $0.45 on Friday. NovaBay Pharmaceuticals has a twelve month low of $0.36 and a twelve month high of $44.80. The company has a market cap of $482,355.60, a PE ratio of 0.00 and a beta of 0.73. The business’s 50-day simple moving average is $1.13 and its 200 day simple moving average is $2.79.

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

Institutional Investors Weigh In On NovaBay Pharmaceuticals

An institutional investor recently bought a new position in NovaBay Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in NovaBay Pharmaceuticals, Inc. (NYSE:NBY) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 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. 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.