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

StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research report report published on Tuesday. The firm issued a sell rating on the stock.

NovaBay Pharmaceuticals Stock Performance

NBY opened at $0.08 on Tuesday. NovaBay Pharmaceuticals has a fifty-two week low of $0.07 and a fifty-two week high of $1.42. The firm’s fifty day moving average is $0.12 and its 200 day moving average is $0.21.

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

Institutional Trading of NovaBay Pharmaceuticals

A hedge fund recently bought a new stake in NovaBay Pharmaceuticals stock. Armistice Capital LLC bought a new position in NovaBay Pharmaceuticals, Inc. (NYSE:NBY) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 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. 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.