Monday, September 21, 2020

Market Analysts see NovaBay Pharmaceuticals Inc. [NBY] gaining to $1.10. Time to buy?

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NovaBay Pharmaceuticals Inc. [AMEX: NBY] gained 1.32% on the last trading session, reaching $0.78 price per share at the time. The company report on August 24, 2020 that NovaBay Appoints CEO Justin Hall to its Board of Directors.

NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY) announces the appointment of President and CEO Justin Hall to the Company’s board of directors, effective August 21, 2020. Mr. Hall has been with NovaBay for seven years in various capacities, and fills a vacancy on the board following the resignation of Xiaopei (Ray) Wang. Board membership remains at six, including three independent directors.

Mr. Hall will serve as a Class II director, and will stand for reelection to a three-year term at the 2021 NovaBay annual meeting of stockholders.

NovaBay Pharmaceuticals Inc. represents 41.74 million in outstanding shares, while the company has a total market value of $32.11 million with the latest information. NBY stock price has been found in the range of $0.67 to $0.80.

If compared to the average trading volume of 6.20M shares, NBY reached a trading volume of 1303325 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about NovaBay Pharmaceuticals Inc. [NBY]:

Ladenburg Thalmann have made an estimate for NovaBay Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 18, 2019. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on July 06, 2018, representing the official price target for NovaBay Pharmaceuticals Inc. stock. Previously, the target price had yet another drop from $10 to $8, while Laidlaw kept a Buy rating on NBY stock.

The Average True Range (ATR) for NovaBay Pharmaceuticals Inc. is set at 0.11, with the Price to Sales ratio for NBY stock in the period of the last 12 months amounting to 3.49. The Price to Book ratio for the last quarter was 26.01, with the Price to Cash per share for the same quarter was set at 0.21.

Trading performance analysis for NBY stock

NovaBay Pharmaceuticals Inc. [NBY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.74. With this latest performance, NBY shares dropped by -41.33% in over the last four-week period, additionally plugging by 74.94% over the last 6 months – not to mention a rise of 49.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NBY stock in for the last two-week period is set at 34.50, with the RSI for the last a single of trading hit 26.60, and the three-weeks RSI is set at 37.69 for NovaBay Pharmaceuticals Inc. [NBY]. The present Moving Average for the last 50 days of trading for this stock 1.1221, while it was recorded at 0.8299 for the last single week of trading, and 0.8224 for the last 200 days.

NovaBay Pharmaceuticals Inc. [NBY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and NovaBay Pharmaceuticals Inc. [NBY] shares currently have an operating margin of -140.02 and a Gross Margin at +73.66. NovaBay Pharmaceuticals Inc.’s Net Margin is presently recorded at -146.79.

Return on Total Capital for NBY is now -185.30, given the latest momentum, and Return on Invested Capital for the company is -301.21. Return on Equity for this stock declined to -326.88, with Return on Assets sitting at -94.14. When it comes to the capital structure of this company, NovaBay Pharmaceuticals Inc. [NBY] has a Total Debt to Total Equity ratio set at 415.83. Additionally, NBY Total Debt to Total Capital is recorded at 80.61, with Total Debt to Total Assets ending up at 36.06. Long-Term Debt to Equity for the company is recorded at 51.90, with the Long-Term Debt to Total Capital now at 10.06.

Reflecting on the efficiency of the workforce at the company, NovaBay Pharmaceuticals Inc. [NBY] managed to generate an average of -$345,964 per employee. Receivables Turnover for the company is 2.89 with a Total Asset Turnover recorded at a value of 0.64.NovaBay Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.80.

NovaBay Pharmaceuticals Inc. [NBY]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, NovaBay Pharmaceuticals Inc. posted -0.01/share EPS, while the average EPS was predicted by analysts to be reported at -0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 87.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NBY.

An analysis of insider ownership at NovaBay Pharmaceuticals Inc. [NBY]

There are presently around $1 million, or 5.10% of NBY stock, in the hands of institutional investors. The top three institutional holders of NBY stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 265,927, which is approximately 253.03% of the company’s market cap and around 10.00% of the total institutional ownership; VANGUARD GROUP INC, holding 120,224 shares of the stock with an approximate value of $94000.0 in NBY stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $55000.0 in NBY stock with ownership of nearly 579.24% of the company’s market capitalization.

Positions in NovaBay Pharmaceuticals Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 11 institutional holders increased their position in NovaBay Pharmaceuticals Inc. [AMEX:NBY] by around 380,513 shares. Additionally, 2 investors decreased positions by around 74,166 shares, while 10 investors held positions by with 192,095 shares. The mentioned changes placed institutional holdings at 646,774 shares, according to the latest SEC report filing. NBY stock had 6 new institutional investments in for a total of 58,549 shares, while 2 institutional investors sold positions of 74,166 shares during the same period.

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