StockNews.com Initiates Coverage on NovaBay Pharmaceuticals (NYSE:NBY)

Analysts at StockNews.com began coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a report released on Monday. The firm set a “hold” rating on the stock.

NovaBay Pharmaceuticals Trading Up 6.8%

Shares of NBY opened at $0.59 on Monday. The company has a market capitalization of $3.42 million, a price-to-earnings ratio of -0.01 and a beta of 0.42. The stock has a 50 day moving average of $0.58 and a 200 day moving average of $0.62. NovaBay Pharmaceuticals has a 12 month low of $0.36 and a 12 month high of $9.08.

Insider Activity at NovaBay Pharmaceuticals

In other NovaBay Pharmaceuticals news, major shareholder Poplar Point Capital Partners purchased 49,400 shares of the firm’s stock in a transaction that occurred on 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 owns 950,000 shares of the company’s stock, valued at $579,500. The trade was a 5.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders acquired 196,092 shares of company stock valued at $119,495. 0.10% of the stock is owned by 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.