NovaBay Pharmaceuticals Inc. [NBY] Stock trading around $0.63 per share: What’s Next?

NovaBay Pharmaceuticals Inc. [AMEX: NBY] stock went on a downward path that fall over -4.63% on Friday, amounting to a one-week price increase of more than 9.84%. 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/.

Over the last 12 months, NBY stock dropped by -48.54%. The average equity rating for NBY stock is currently 1.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $27.80 million, with 41.78 million shares outstanding and 32.65 million shares in the current float. Compared to the average trading volume of 1.08M shares, NBY stock reached a trading volume of 6948287 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.06, with the Price to Sales ratio for NBY stock in the period of the last 12 months amounting to 2.84. The Price to Book ratio for the last quarter was 2.43, with the Price to Cash per share for the same quarter was set at 0.24.

NBY Stock Performance Analysis:

NovaBay Pharmaceuticals Inc. [NBY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.84. With this latest performance, NBY shares dropped by -4.40% in over the last four-week period, additionally sinking by -37.33% over the last 6 months – not to mention a drop of -48.54% 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 47.89, with the RSI for the last a single of trading hit 49.99, and the three-weeks RSI is set at 46.49 for NovaBay Pharmaceuticals Inc. [NBY]. The present Moving Average for the last 50 days of trading for this stock 0.6731, while it was recorded at 0.6287 for the last single week of trading, and 0.7938 for the last 200 days.

Insight into NovaBay Pharmaceuticals Inc. Fundamentals:

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.

NovaBay Pharmaceuticals Inc. [NBY] Insider Position Details

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 $0.21 million in NBY stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $93000.0 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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