NovaBay Pharmaceuticals (NYSE:NBY) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research note released on Monday. The firm issued a hold rating on the stock.

NovaBay Pharmaceuticals Stock Up 1.3%

Shares of NYSE NBY opened at $0.60 on Monday. The firm’s 50-day simple moving average is $0.58 and its 200 day simple moving average is $0.62. The company has a market cap of $3.46 million, a price-to-earnings ratio of -0.01 and a beta of 0.42. NovaBay Pharmaceuticals has a 12-month low of $0.36 and a 12-month high of $9.08.

Insider Buying and Selling

In related news, major shareholder Poplar Point Capital Partners purchased 49,400 shares of NovaBay Pharmaceuticals stock in a transaction that occurred on Friday, March 28th. The shares were acquired at an average price of $0.61 per share, for a total transaction of $30,134.00. Following the transaction, the insider now directly owns 950,000 shares in the company, valued at approximately $579,500. This represents a 5.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have purchased a total of 196,092 shares of company stock worth $119,495 in the last 90 days. Corporate insiders own 0.10% of the company’s stock.

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.