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

StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a report issued on Wednesday. The firm set a “sell” rating on the stock.

NovaBay Pharmaceuticals Stock Performance

NBY stock opened at $0.09 on Wednesday. The company’s 50 day moving average is $0.12 and its 200 day moving average is $0.20. The stock has a market cap of $3.25 million, a price-to-earnings ratio of -0.02 and a beta of 2.03. NovaBay Pharmaceuticals has a 1-year low of $0.07 and a 1-year high of $1.28.

NovaBay Pharmaceuticals (NYSE:NBY) last posted its quarterly earnings data on Tuesday, March 26th. The company reported ($0.95) earnings per share for the quarter. The company had revenue of $3.73 million during the quarter. NovaBay Pharmaceuticals had a negative return on equity of 150.14% and a negative net margin of 65.46%. As a group, sell-side analysts forecast that NovaBay Pharmaceuticals will post -0.41 EPS for the current fiscal year.

Institutional Trading of NovaBay Pharmaceuticals

An institutional investor recently bought a new position in NovaBay Pharmaceuticals stock. Armistice Capital LLC bought a new stake in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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. 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.