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

StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a report issued on Friday morning. The brokerage issued a hold rating on the stock.

NovaBay Pharmaceuticals Price Performance

NovaBay Pharmaceuticals stock opened at $0.60 on Friday. NovaBay Pharmaceuticals has a 1-year low of $0.36 and a 1-year high of $9.08. The business has a fifty day moving average price of $0.60 and a 200-day moving average price of $0.63. The stock has a market capitalization of $3.49 million, a price-to-earnings ratio of -0.01 and a beta of 0.90.

Insider Transactions at NovaBay Pharmaceuticals

In related news, major shareholder Poplar Point Capital Partners purchased 70,685 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was acquired at an average price of $0.65 per share, with a total value of $45,945.25. Following the completion of the acquisition, the insider now owns 620,685 shares in the company, valued at approximately $403,445.25. This represents a 12.85 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have acquired 301,077 shares of company stock worth $188,978. 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.