NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) was the recipient of a large growth in short interest in the month of December. As of December 29th, there was short interest totalling 80,350 shares, a growth of 32.1% from the December 15th total of 60,840 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily trading volume, of 17,995 shares, the days-to-cover ratio is presently 4.5 days.
A number of analysts have recently weighed in on NBY shares. ValuEngine downgraded shares of NovaBay Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, November 10th. Zacks Investment Research downgraded shares of NovaBay Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. reduced their target price on shares of NovaBay Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th. Roth Capital set a $5.00 target price on shares of NovaBay Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, October 23rd. Finally, HC Wainwright set a $6.00 target price on shares of NovaBay Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $6.33.
NovaBay Pharmaceuticals (NYSEAMERICAN NBY) opened at $3.70 on Friday. The stock has a market cap of $59.23, a PE ratio of -5.78 and a beta of -0.70. NovaBay Pharmaceuticals has a one year low of $2.25 and a one year high of $5.00.
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About NovaBay Pharmaceuticals
NovaBay Pharmaceuticals, Inc, formerly NovaCal Pharmaceuticals, Inc, is a biopharmaceutical company, which develops products for the eye care market. The Company focuses on commercializing prescription Avenova for managing hygiene of the eyelids and lashes in the United States. Avenova is an eye care product formulated with a form of hypochlorous acid called Neutrox.
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