NovaBay Pharmaceuticals Inc. [NBY] stock Initiated by Ladenburg Thalmann analyst, price target now $1.10

NovaBay Pharmaceuticals Inc. [AMEX: NBY] price surged by 4.79 percent to reach at $0.0. The company report on October 18, 2022 that NovaBay Pharmaceuticals Announces Significant Orders for DERMAdoctor’s Top-Selling Kakadu C Anti-Aging Serum ahead of the Holiday Season.

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NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY) announces significant orders for DERMAdoctor® Kakadu® C 20% Vitamin C Serum with Ferulic Acid & Vitamin E.

“We are excited to share that one of our best-selling products, DERMAdoctor Kakadu C serum, continues its popularity this year with several large orders just in time for the holiday season,” said Justin Hall, NovaBay CEO. “These orders will favorably impact DERMAdoctor’s revenue contribution for the 2022 third and fourth quarters.”.

A sum of 6168886 shares traded at recent session while its average daily volume was at 1.14M shares. NovaBay Pharmaceuticals Inc. shares reached a high of $0.11 and dropped to a low of $0.10 until finishing in the latest session at $0.10.

The one-year NBY stock forecast points to a potential upside of 96.43. The average equity rating for NBY stock is currently 1.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $2.80 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 0.02, with the Price to Sales ratio for NBY stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 0.36, with the Price to Cash per share for the same quarter was set at 0.06.

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 11.58. With this latest performance, NBY shares dropped by -16.73% in over the last four-week period, additionally sinking by -58.02% over the last 6 months – not to mention a drop of -80.66% 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 33.84, with the RSI for the last a single of trading hit 40.93, and the three-weeks RSI is set at 32.52 for NovaBay Pharmaceuticals Inc. [NBY]. The present Moving Average for the last 50 days of trading for this stock 0.1780, while it was recorded at 0.1024 for the last single week of trading, and 0.2470 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 1.50 and a Current Ratio set at 2.60.

NovaBay Pharmaceuticals Inc. [NBY] Insider Position Details

There are presently around $0 million, or 2.60% 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 0.30% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 409,544 shares of the stock with an approximate value of $43000.0 in NBY stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $20000.0 in NBY stock with ownership of nearly 28.378% of the company’s market capitalization.

Positions in NovaBay Pharmaceuticals Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 8 institutional holders increased their position in NovaBay Pharmaceuticals Inc. [AMEX:NBY] by around 312,294 shares. Additionally, 7 investors decreased positions by around 235,697 shares, while 14 investors held positions by with 1,119,365 shares. The mentioned changes placed institutional holdings at 1,667,356 shares, according to the latest SEC report filing. NBY stock had 5 new institutional investments in for a total of 62,130 shares, while 4 institutional investors sold positions of 34,856 shares during the same period.


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