NovaBay Pharmaceuticals Inc. [NBY] fell -16.63% so far this year. What now?

NovaBay Pharmaceuticals Inc. [AMEX: NBY] loss -13.09% or -0.09 points to close at $0.58 with a heavy trading volume of 3141998 shares. The company report on July 19, 2021 that NovaBay Pharmaceuticals Partners with Harrow Health’s ImprimisRx® to Promote Prescription Avenova.

NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY), a pharmaceutical company focusing on commercializing Avenova for the eye care market, announces it has partnered with ImprimisRx, one of the nation’s leading ophthalmology-focused pharmaceutical businesses, to promote prescription Avenova. ImprimisRx, a wholly owned subsidiary of Harrow Health, Inc. (Nasdaq: HROW), will provide NovaBay with national sales, marketing, and distribution support for its FDA-cleared 0.01% hypochlorous acid Avenova in 40 ml bottles. Avenova is a clinically proven antimicrobial lid and lash solution for the management of numerous chronic eye conditions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210719005026/en/.

It opened the trading session at $0.64, the shares rose to $0.66 and dropped to $0.57, the range by which the price of stock traded the whole day. The daily chart for NBY points out that the company has recorded -44.12% loss over the past six months. However, it is still -13.73% lower than its most recent low trading price.

If we look at the average trading volume of 976.00K shares, NBY reached to a volume of 3141998 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 2.56. The Price to Book ratio for the last quarter was 2.23, with the Price to Cash per share for the same quarter was set at 0.24.

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 -4.27. With this latest performance, NBY shares dropped by -18.84% in over the last four-week period, additionally sinking by -44.12% over the last 6 months – not to mention a drop of -63.91% 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 38.80, with the RSI for the last a single of trading hit 38.71, and the three-weeks RSI is set at 39.48 for NovaBay Pharmaceuticals Inc. [NBY]. The present Moving Average for the last 50 days of trading for this stock 0.6773, while it was recorded at 0.6042 for the last single week of trading, and 0.7959 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 -64.68 and a Gross Margin at +60.04. NovaBay Pharmaceuticals Inc.’s Net Margin is presently recorded at -111.12.

Return on Total Capital for NBY is now -72.03, given the latest momentum, and Return on Invested Capital for the company is -159.03. Return on Equity for this stock declined to -166.11, with Return on Assets sitting at -37.13. When it comes to the capital structure of this company, NovaBay Pharmaceuticals Inc. [NBY] has a Total Debt to Total Equity ratio set at 4.08. Additionally, NBY Total Debt to Total Capital is recorded at 3.92, with Total Debt to Total Assets ending up at 1.04. Long-Term Debt to Equity for the company is recorded at 0.71, with the Long-Term Debt to Total Capital now at 0.68.

Reflecting on the efficiency of the workforce at the company, NovaBay Pharmaceuticals Inc. [NBY] managed to generate an average of -$441,560 per employee. Receivables Turnover for the company is 9.15 with a Total Asset Turnover recorded at a value of 0.33.NovaBay Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.30.

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

There are presently around $1 million, or 6.30% of NBY stock, in the hands of institutional investors. The top three institutional holders of NBY stocks are: VANGUARD GROUP INC with ownership of 413,541, which is approximately 158.102% of the company’s market cap and around 0.20% of the total institutional ownership; BRIDGEWAY CAPITAL MANAGEMENT, LLC, holding 325,000 shares of the stock with an approximate value of $0.19 million in NBY stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $86000.0 in NBY stock with ownership of nearly 109.128% of the company’s market capitalization.

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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 8 institutional holders increased their position in NovaBay Pharmaceuticals Inc. [AMEX:NBY] by around 684,830 shares. Additionally, 9 investors decreased positions by around 538,373 shares, while 8 investors held positions by with 33,231 shares. The mentioned changes placed institutional holdings at 1,189,972 shares, according to the latest SEC report filing. NBY stock had 3 new institutional investments in for a total of 40,894 shares, while 5 institutional investors sold positions of 499,196 shares during the same period.

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