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

StockNews.com assumed coverage on shares of NovaBay Pharmaceuticals (NYSEAMERICAN:NBY – Get Rating) in a research report sent to investors on Tuesday. The firm issued a hold rating on the biopharmaceutical company’s stock.

NovaBay Pharmaceuticals Trading Down 0.8 %

Shares of NYSEAMERICAN NBY opened at $0.68 on Tuesday. NovaBay Pharmaceuticals has a 12 month low of $0.65 and a 12 month high of $12.64. The stock has a 50 day moving average of $1.32 and a 200-day moving average of $1.59. The company has a market capitalization of $1.27 million, a P/E ratio of -0.12 and a beta of 2.69.

NovaBay Pharmaceuticals (NYSEAMERICAN:NBY – Get Rating) last released its quarterly earnings results on Thursday, March 30th. The biopharmaceutical company reported ($4.33) earnings per share (EPS) for the quarter. The firm had revenue of $3.64 million during the quarter. NovaBay Pharmaceuticals had a negative net margin of 21.09% and a negative return on equity of 18.62%.

Institutional Trading of NovaBay Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Armistice Capital LLC bought a new stake in shares of NovaBay Pharmaceuticals during the 4th quarter valued at $289,000. Renaissance Technologies LLC lifted its position in shares of NovaBay Pharmaceuticals by 103.5% during the 2nd quarter. Renaissance Technologies LLC now owns 409,544 shares of the biopharmaceutical company’s stock valued at $102,000 after acquiring an additional 208,322 shares during the period. Virtu Financial LLC lifted its position in shares of NovaBay Pharmaceuticals by 260.4% during the 1st quarter. Virtu Financial LLC now owns 163,451 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 118,099 shares during the period. Finally, Altium Capital Management LP bought a new stake in shares of NovaBay Pharmaceuticals during the 3rd quarter valued at $121,000.

About NovaBay Pharmaceuticals

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NovaBay Pharmaceuticals, Inc engages in the development and sales of scientifically-created and clinically-proven eyecare and skincare. Its products include Avenova, NeutroPhase, CelleRx, and DERMAdoctor. The company was founded on January 19, 2000 and is headquartered in Emeryville, CA.