Novabay Pharmaceuticals Inc [AMEX: NBY] surged by $0.02 during the normal trading session on while it closed the day at $0.18. 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 has also gained 15.26% of its value over the past 7 days. However, NBY stock has declined by -45.75% in the 3 months of the year. Over the past six months meanwhile, it has lost -75.47% and lost -11.86% year-on date.
The market cap for NBY stock reached $1.17 million, with 6.53 million shares outstanding and 6.37 million shares in the current float. Compared to the average trading volume of 971.30K shares, NBY reached a trading volume of 41855775 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 0.02, 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 0.23, with the Price to Cash per share for the same quarter was set at 0.53.
NBY stock trade performance evaluation
Novabay Pharmaceuticals Inc [NBY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.26. With this latest performance, NBY shares dropped by -15.98% in over the last four-week period, additionally sinking by -75.47% over the last 6 months – not to mention a drop of -91.10% 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 44.66, with the RSI for the last a single of trading hit 54.57, and the three-weeks RSI is set at 39.77 for Novabay Pharmaceuticals Inc [NBY]. The present Moving Average for the last 50 days of trading for this stock 0.2383, while it was recorded at 0.1623 for the last single week of trading, and 0.5770 for the last 200 days.
Novabay Pharmaceuticals Inc [NBY]: An insightful look at the core fundamentals
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.
Earnings per share (EPS) analysis for Novabay Pharmaceuticals Inc [NBY] stock
With the latest financial reports released by the company, Novabay Pharmaceuticals Inc posted -0.78/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -358.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NBY.
Novabay Pharmaceuticals Inc [NBY]: Institutional Ownership
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%.
