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

StockNews.com assumed coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research note published on Wednesday morning. The brokerage issued a sell rating on the stock.

NovaBay Pharmaceuticals Stock Performance

NYSE NBY opened at $0.09 on Wednesday. The company has a market capitalization of $3.42 million, a P/E ratio of -0.02 and a beta of 2.03. The stock has a 50 day moving average price of $0.11 and a 200-day moving average price of $0.20. NovaBay Pharmaceuticals has a one year low of $0.07 and a one year high of $1.28.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in NovaBay Pharmaceuticals stock. Armistice Capital LLC purchased a new position in shares of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 quarter. Institutional investors own 23.25% of the company’s stock.

NovaBay Pharmaceuticals Company Profile

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.