NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Trading Up 17.7% – Time to Buy?

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) shares were up 17.7% on Thursday . The stock traded as high as $4.00 and last traded at $4.12. Approximately 230,989 shares changed hands during trading, a decline of 88% from the average daily volume of 1,986,156 shares. The stock had previously closed at $3.50.

NovaBay Pharmaceuticals Trading Down 1.3%

The firm’s 50 day simple moving average is $1.34 and its 200-day simple moving average is $1.21. The stock has a market capitalization of $435.49 million, a price-to-earnings ratio of -0.35 and a beta of 0.57.

NovaBay Pharmaceuticals Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, September 29th. Investors of record on Wednesday, October 1st were given a dividend of $0.80 per share. This represents a yield of 3,791.0%. The ex-dividend date of this dividend was Tuesday, September 30th.

Institutional Investors Weigh In On NovaBay Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Ground Swell Capital LLC bought a new position in NovaBay Pharmaceuticals during the 3rd quarter worth $25,000. Apollon Wealth Management LLC acquired a new position in NovaBay Pharmaceuticals in the third quarter valued at about $35,000. Finally, C2C Wealth Management LLC raised its stake in NovaBay Pharmaceuticals by 78.2% in the second quarter. C2C Wealth Management LLC now owns 98,000 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 43,000 shares in the last quarter. 23.25% of the stock is currently owned by institutional investors.

About NovaBay Pharmaceuticals

NovaBay Pharmaceuticals, Inc develops and sells eyecare 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; Avenova Eye Health Support antioxidant-rich oral supplements; Avenova Lubricating Eye Drops for instant relief; NovaWipes by Avenova; Avenova WarmEye Compress to soothe the eyes; and the i-Chek by Avenova to monitor physical eyelid health.