NovaBay Pharmaceuticals (NYSE:NBY) Stock Price Up 0.3% – Still a Buy?

NovaBay Pharmaceuticals, Inc. (NYSE:NBY) was up 0.3% on Tuesday . The stock traded as high as $0.60 and last traded at $0.60. Approximately 18,170 shares traded hands during trading, a decline of 87% from the average daily volume of 137,496 shares. The stock had previously closed at $0.59.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on NovaBay Pharmaceuticals in a report on Tuesday, May 20th. They set a “hold” rating for the company.

NovaBay Pharmaceuticals Price Performance

The company has a 50-day simple moving average of $0.57 and a 200-day simple moving average of $0.60. The stock has a market cap of $3.47 million, a PE ratio of -0.01 and a beta of 0.43.

Insiders Place Their Bets

In other news, major shareholder Poplar Point Capital Partners purchased 49,400 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was acquired at an average price of $0.61 per share, for a total transaction of $30,134.00. Following the completion of the transaction, the insider now directly owns 950,000 shares in the company, valued at $579,500. This represents a 5.49% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders acquired 135,032 shares of company stock worth $82,248. 0.10% of the stock is owned by corporate insiders.

NovaBay Pharmaceuticals Company Profile

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.