NovaBay Pharmaceuticals Inc. [AMEX: NBY] stock went on an upward path that rose over 11.89% on Wednesday, amounting to a one-week price increase of more than 3.20%. The company report on October 26, 2022 that NovaBay Pharmaceuticals Announces Expansion of DERMAdoctor Picture Porefect Collection with Launch of 15% Niacinamide Pore Minimizing Serum.
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New super-charged serum helps men and women minimize the size of enlarged facial pores.
NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY) announces the newest addition to the DERMAdoctor® Picture Porefect® collection: 15% Niacinamide Pore Minimizing Serum. This new, high-potency formulation minimizes the size of visible facial pores while delivering free-radical-neutralizing antioxidants and collagen-supporting agents to reduce blackheads, skin discoloration, rough skin, acne, and oily or combination skin.
Over the last 12 months, NBY stock dropped by -80.59%. The one-year NovaBay Pharmaceuticals Inc. stock forecast points to a potential upside of 96.07. 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 $6.90 million, with 64.99 million shares outstanding and 54.47 million shares in the current float. Compared to the average trading volume of 1.34M shares, NBY stock reached a trading volume of 6566347 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]:
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 0.01, with the Price to Sales ratio for NBY stock in the period of the last 12 months amounting to 0.68. The Price to Book ratio for the last quarter was 0.37, 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 3.20. With this latest performance, NBY shares dropped by -9.99% in over the last four-week period, additionally sinking by -55.71% over the last 6 months – not to mention a drop of -80.59% 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 41.27, with the RSI for the last a single of trading hit 51.12, and the three-weeks RSI is set at 37.19 for NovaBay Pharmaceuticals Inc. [NBY]. The present Moving Average for the last 50 days of trading for this stock 0.1553, while it was recorded at 0.0985 for the last single week of trading, and 0.2385 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 7 institutional holders increased their position in NovaBay Pharmaceuticals Inc. [AMEX:NBY] by around 311,014 shares. Additionally, 7 investors decreased positions by around 235,697 shares, while 15 investors held positions by with 1,120,645 shares. The mentioned changes placed institutional holdings at 1,667,356 shares, according to the latest SEC report filing. NBY stock had 4 new institutional investments in for a total of 60,850 shares, while 4 institutional investors sold positions of 34,856 shares during the same period.