NovaBay Pharmaceuticals (NYSE:NBY) Earns Hold Rating from Analysts at Wall Street Zen

Wall Street Zen assumed coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research report released on Tuesday. The firm issued a hold rating on the stock.

NovaBay Pharmaceuticals Stock Performance

Shares of NBY stock opened at $0.57 on Tuesday. NovaBay Pharmaceuticals has a 52 week low of $0.36 and a 52 week high of $6.30. The company’s 50 day moving average price is $0.57 and its two-hundred day moving average price is $0.62. The company has a market capitalization of $3.30 million, a P/E ratio of -0.01 and a beta of 0.42.

Insider Buying and Selling

In other news, major shareholder Poplar Point Capital Partners acquired 49,400 shares of NovaBay Pharmaceuticals stock in a transaction dated Friday, March 28th. The stock was bought at an average cost of $0.61 per share, with a total value of $30,134.00. Following the completion of the transaction, the insider now directly owns 950,000 shares of the company’s stock, valued at approximately $579,500. This represents a 5.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 191,034 shares of company stock worth $116,212 over the last ninety days. Company insiders own 0.10% of the company’s stock.

About NovaBay Pharmaceuticals

NovaBay Pharmaceuticals, Inc, a biopharmaceutical company, develops and sells eyecare, skincare, and wound care products in the United States and internationally. It offers Avenova Spray, a solution for removing foreign materials, including microorganisms and debris from skin around the eye, such as the eyelid; and wound care products, which are used for cleansing and irrigation as part of surgical procedures, as well as treating certain wounds, burns, ulcers, and other injuries under the NeutroPhase and PhaseOne brands.