Novabay Pharmaceuticals Inc [AMEX: NBY] price plunged by -4.87 percent to reach at -$0.01. The company report on March 14, 2024 at 8:00 AM that NovaBay Pharmaceuticals Announces Agreement to Sell its DERMAdoctor Skincare Business Segment; Announces Preliminary Financial Results for Fourth Quarter and Year Ended December 31, 2023.
DERMAdoctor sale reduces operating expenses and bolsters cash.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY), a company developing and commercializing high-quality eyecare and wound care products, announces that the Company has entered into an agreement to sell its DERMAdoctor® skincare business including all product inventory for approximately $1.0 million in cash. NovaBay expects to close the transaction before the end of the first quarter of 2024 and provide certain transitional services for the next 90 days.
The one-year NBY stock forecast points to a potential upside of 96.29. The average equity rating for NBY stock is currently 1.00, 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 $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. 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 0.06. The Price to Book ratio for the last quarter was 0.17, with the Price to Cash per share for the same quarter was set at 0.53.
NBY Stock Performance Analysis:
Novabay Pharmaceuticals Inc [NBY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.27. With this latest performance, NBY shares dropped by -1.75% in over the last four-week period, additionally sinking by -73.08% over the last 6 months – not to mention a drop of -91.02% 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 39.37, with the RSI for the last a single of trading hit 36.60, and the three-weeks RSI is set at 39.53 for Novabay Pharmaceuticals Inc [NBY]. The present Moving Average for the last 50 days of trading for this stock 0.1557, while it was recorded at 0.1389 for the last single week of trading, and 0.4230 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 1.03 and a Current Ratio set at 1.80.
NBY Stock EPS
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] Institutonal Ownership Details
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%.
