Novabay Pharmaceuticals Inc [AMEX: NBY] jumped around 0.01 points on Tuesday, while shares priced at $0.19 at the close of the session, up 4.94%. The company report on January 9, 2024 at 9:15 AM that NovaBay Pharmaceuticals and Sonoma Pharmaceuticals Agree to Market Avenova-branded Products in the European Union Through Sonoma’s Extensive Distributor Network.
NovaBay Pharmaceuticals, Inc. (NYSE American:NBY) and Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) today announced an agreement for the sale and marketing of Avenova®-branded products by Sonoma in the European Union. The new products will combine Sonoma’s existing eye product Ocudox®, which has already received a Class IIB CE mark for sale in the European Union, with Avenova branding, and are expected to be marketed through Sonoma’s established European distribution network. This agreement brings together NovaBay’s deep knowledge of eye care reflected in its Avenova brand with Sonoma’s expertise in distributing hypochlorous acid products overseas.
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Sonoma will manufacture Ocudox by Avenova with packaging similar to NovaBay’s Avenova products, which are the leading hypochlorous acid-based eye care products in the U.S. Sonoma will pay NovaBay a royalty fee based on net product sales of Ocudox by Avenova, and Sonoma will continue to market its Ocudox product in the European Union.
Novabay Pharmaceuticals Inc stock is now -7.40% down from its year-to-date (YTD) trading value. NBY Stock saw the intraday high of $0.24 and lowest of $0.19 per share. The company’s 52-week high price is 2.65, which means current price is +28.33% above from all time high which was touched on 01/09/24.
Compared to the average trading volume of 306.73K shares, NBY reached a trading volume of 19564114 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $3.50 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 1.00. 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.
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 0.08. The Price to Book ratio for the last quarter was 0.24, with the Price to Cash per share for the same quarter was set at 0.53.
How has NBY stock performed recently?
Novabay Pharmaceuticals Inc [NBY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.93. With this latest performance, NBY shares dropped by -36.38% in over the last four-week period, additionally sinking by -73.17% over the last 6 months – not to mention a drop of -90.56% 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 27.94, with the RSI for the last a single of trading hit 28.20, and the three-weeks RSI is set at 29.50 for Novabay Pharmaceuticals Inc [NBY]. The present Moving Average for the last 50 days of trading for this stock 0.2846, while it was recorded at 0.1811 for the last single week of trading, and 0.6728 for the last 200 days.
Novabay Pharmaceuticals Inc [NBY]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Novabay Pharmaceuticals Inc [NBY] shares currently have an operating margin of -53.32 and a Gross Margin at +54.02. Novabay Pharmaceuticals Inc’s Net Margin is presently recorded at -112.92.
Return on Total Capital for NBY is now -65.87, given the latest momentum, and Return on Invested Capital for the company is -144.20. Return on Equity for this stock declined to -156.96, with Return on Assets sitting at -80.57. When it comes to the capital structure of this company, Novabay Pharmaceuticals Inc [NBY] has a Total Debt to Total Equity ratio set at 19.34. Additionally, NBY Total Debt to Total Capital is recorded at 16.20, with Total Debt to Total Assets ending up at 12.45. Long-Term Debt to Equity for the company is recorded at 20.95, with the Long-Term Debt to Total Capital now at 12.61.
Reflecting on the efficiency of the workforce at the company, Novabay Pharmaceuticals Inc [NBY] managed to generate an average of -$492,879 per employee. Receivables Turnover for the company is 7.91 with a Total Asset Turnover recorded at a value of 0.71.Novabay Pharmaceuticals Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.03 and a Current Ratio set at 1.80.
Insider trade positions for Novabay Pharmaceuticals Inc [NBY]
The top three institutional holders of NBY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NBY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NBY stock with ownership which is approximately 5.8325%.
