NovaBay Pharmaceuticals (NYSE:NBY) Earns Sell Rating from Analysts at StockNews.com

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

NovaBay Pharmaceuticals Price Performance

NYSE:NBY opened at $0.09 on Friday. The firm has a 50 day simple moving average of $0.14 and a 200-day simple moving average of $0.24. The firm has a market cap of $2.61 million, a PE ratio of -0.02 and a beta of 1.97. NovaBay Pharmaceuticals has a 1-year low of $0.08 and a 1-year high of $1.95.

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 firm had revenue of $3.73 million during the quarter. NovaBay Pharmaceuticals had a negative net margin of 65.46% and a negative return on equity of 150.14%. As a group, sell-side analysts expect that NovaBay Pharmaceuticals will post -0.41 earnings per share 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 the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 filing with the Securities and Exchange Commission (SEC). Hedge funds and other 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.