Wall Street Analyst Initiated NovaBay Pharmaceuticals Inc. [NBY]. What else is Wall St. saying

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NovaBay Pharmaceuticals Inc. [AMEX: NBY] gained 4.68% or 0.01 points to close at $0.23 with a heavy trading volume of 7803241 shares. The company report on May 12, 2022 that NovaBay Pharmaceuticals Reports First Quarter 2022 Financial Results.


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Avenova® Spray unit sales increased 15% with record-high units sold through the OTC channel.

Announced launch of two next-generation OTC DERMAdoctor products this week building on momentum of top-selling collections, bringing new OTC product introductions to five since the beginning of 2022.

It opened the trading session at $0.23, the shares rose to $0.35 and dropped to $0.21, the range by which the price of stock traded the whole day. The daily chart for NBY points out that the company has recorded -54.93% loss over the past six months. However, it is still -35.29% lower than its most recent low trading price.

If we look at the average trading volume of 431.54K shares, NBY reached to a volume of 7803241 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NBY shares is $3.10 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NBY stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.03, with the Price to Sales ratio for NBY stock in the period of the last 12 months amounting to 1.34. The Price to Book ratio for the last quarter was 0.69, with the Price to Cash per share for the same quarter was set at 0.11.

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 23.68. With this latest performance, NBY shares gained by 1.60% in over the last four-week period, additionally sinking by -54.93% over the last 6 months – not to mention a drop of -65.35% 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 59.33, with the RSI for the last a single of trading hit 70.13, and the three-weeks RSI is set at 52.64 for NovaBay Pharmaceuticals Inc. [NBY]. The present Moving Average for the last 50 days of trading for this stock 0.2456, while it was recorded at 0.2090 for the last single week of trading, and 0.4080 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 -105.24 and a Gross Margin at +67.03. NovaBay Pharmaceuticals Inc.’s Net Margin is presently recorded at -69.16.

Return on Equity for this stock declined to -51.79, with Return on Assets sitting at -16.13.

NovaBay Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.60.

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

There are presently around $0 million, or 3.00% of NBY stock, in the hands of institutional investors. The top three institutional holders of NBY stocks are: VANGUARD GROUP INC with ownership of 591,588, which is approximately 0% of the company’s market cap and around 0.60% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 201,222 shares of the stock with an approximate value of $45000.0 in NBY stocks shares; and VIRTU FINANCIAL LLC, currently with $37000.0 in NBY stock with ownership of nearly 260.405% of the company’s market capitalization.

Positions in NovaBay Pharmaceuticals Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 8 institutional holders increased their position in NovaBay Pharmaceuticals Inc. [AMEX:NBY] by around 248,758 shares. Additionally, 5 investors decreased positions by around 274,288 shares, while 15 investors held positions by with 1,068,633 shares. The mentioned changes placed institutional holdings at 1,591,679 shares, according to the latest SEC report filing. NBY stock had 4 new institutional investments in for a total of 38,135 shares, while 4 institutional investors sold positions of 269,388 shares during the same period.

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