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

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

NovaBay Pharmaceuticals Stock Performance

NBY stock opened at $0.08 on Monday. The company’s 50 day moving average price is $0.13 and its 200 day moving average price is $0.22. NovaBay Pharmaceuticals has a fifty-two week low of $0.07 and a fifty-two week high of $1.95. The firm has a market capitalization of $3.03 million, a price-to-earnings ratio of -0.02 and a beta of 1.97.

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

Hedge Funds Weigh In On NovaBay Pharmaceuticals

A hedge fund recently bought a new stake in NovaBay Pharmaceuticals stock. Armistice Capital LLC purchased a new position in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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.