NovaBay Pharmaceuticals Inc. [NBY] Stock trading around $0.65 per share: What’s Next?

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NovaBay Pharmaceuticals Inc. [AMEX: NBY] gained 5.55% or 0.03 points to close at $0.65 with a heavy trading volume of 1557692 shares. The company report on November 13, 2020 that NovaBay Pharmaceuticals Reports Third Quarter 2020 Financial Results.

Revenue increased 34% versus prior year.

Avenova® unit sales set quarterly record.

It opened the trading session at $0.64, the shares rose to $0.67 and dropped to $0.63, the range by which the price of stock traded the whole day. The daily chart for NBY points out that the company has recorded -26.98% loss over the past six months. However, it is still -170.83% lower than its most recent low trading price.

If we look at the average trading volume of 2.22M shares, NBY reached to a volume of 1557692 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 0.05, with the Price to Sales ratio for NBY stock in the period of the last 12 months amounting to 3.20. The Price to Book ratio for the last quarter was 21.66, with the Price to Cash per share for the same quarter was set at 0.19.

Trading performance analysis for NBY stock

NovaBay Pharmaceuticals Inc. [NBY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.11. With this latest performance, NBY shares dropped by -15.05% in over the last four-week period, additionally sinking by -26.98% over the last 6 months – not to mention a rise of 23.06% 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 48.97, with the RSI for the last a single of trading hit 55.42, and the three-weeks RSI is set at 45.62 for NovaBay Pharmaceuticals Inc. [NBY]. The present Moving Average for the last 50 days of trading for this stock 0.7115, while it was recorded at 0.5907 for the last single week of trading, and 0.8468 for the last 200 days.

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

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 $0 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 9.60% of the total institutional ownership; VANGUARD GROUP INC, holding 120,224 shares of the stock with an approximate value of $78000.0 in NBY stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $46000.0 in NBY stock with ownership of nearly 579.24% of the company’s market capitalization.

9 institutional holders increased their position in NovaBay Pharmaceuticals Inc. [AMEX:NBY] by around 362,732 shares. Additionally, 3 investors decreased positions by around 92,666 shares, while 10 investors held positions by with 174,965 shares. The mentioned changes placed institutional holdings at 630,363 shares, according to the latest SEC report filing. NBY stock had 3 new institutional investments in for a total of 56,012 shares, while 2 institutional investors sold positions of 71,206 shares during the same period.

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