NovaBay Pharmaceuticals Inc. (AMEX: NBY) Has Another Chance To Impress You


    Renaissance Technologies LLC recently announced the acquisition of new stake in NovaBay Pharmaceuticals Inc. (AMEX:NBY). The institutional investor has increased its shareholding in the Healthcare company by 253.03% to 0.27 million shares with purchase of 0.19 million shares. This fresh investment now brings its stake to 0.80% valued currently at $0.33 million. In addition, The Vanguard Group, Inc. raised its holdings by 50100.0 to 0.12 million shares. And Geode Capital Management LLC has lifted its position by 579.24% or 60073.0 shares – to 70444.0 shares.

    With over 1.3 million NovaBay Pharmaceuticals Inc. (NBY) shares trading Friday and a closing price of $0.96 on the day, the dollar volume was approximately $1.25 million. The shares have shown a negative weekly performance of -1.24% and its price on 08/21/20 lost nearly -3.17%. Currently, there are 41.74M common shares owned by the public and among those 32.52M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for NBY have a consensus price objective of $2.50. The analysts have set the share’s price value over the next 12 months at a high of $3.25 and a low of $1.75 should the stock experience a downside. Incidentally, analysts’ outlook for the NovaBay Pharmaceuticals Inc. stock is 1.50 for the next 12 months. But an upside of 70.46% will see the stock hit the forecast high price target while mean target price for the stock is $2.50.

    Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 20,000 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 1,322,350 shares.

    The top 3 mutual fund holders in NovaBay Pharmaceuticals Inc. are Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and Bridgeway Ultra Small Company Mar. Vanguard Extended Market Index Fu owns 0.12 million shares of the company’s stock, all valued at over $0.15 million. Bridgeway Ultra Small Company Mar now owns shares totaling to 0.08% of the shares outstanding.

    Shares of NovaBay Pharmaceuticals Inc. (AMEX: NBY) opened at $0.96, down -$0.03 from a prior closing price of $0.99. However, the script later closed the day at $0.96, down -3.17%. The company’s stock has a 5-day price change of -1.24% and 12.11% over the past three months. NBY shares are trading 50.47% year to date (YTD), with the 12-month market performance up to 45.91% higher. It has a 12-month low price of $0.24 and touched a high of $1.94 over the same period. Currently, 1.3 million shares have been traded, compared to an average intraday trading volume of 6.18 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -15.25%, -15.57%, and 19.21% respectively.

    Institutional ownership of NovaBay Pharmaceuticals Inc. (AMEX: NBY) shares accounts for 5.10% of the company’s 41.74M shares outstanding. Mutual fund holders own 1.28%, while other institutional holders and individual stakeholders account for 31.79% and 0.66% respectively.

    It has a market capitalization of $41.50M and a beta (3y monthly) value of 3.73. The earnings-per-share (ttm) stands at -$0.34. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.18% over the week and 10.27% over the month.

    Analysts forecast that NovaBay Pharmaceuticals Inc. (NBY) will achieve an EPS of -$0.04 for the current quarter, -$0.03 for the next quarter and -$0.13 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.04 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.01 a year ago. Earnings per share for the fiscal year are expected to decrease by -25.30%, and 48.00% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate NovaBay Pharmaceuticals Inc. (NBY) as a “Strong Buy” at a consensus score of 1.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the NBY, a number of firms have released research notes about the stock. Ladenburg Thalmann stated their Buy rating for the stock in a research note on September 18, 2019, with the firm’s price target at $1.10. H.C. Wainwright coverage for the NovaBay Pharmaceuticals Inc. (NBY) stock in a research note released on July 06, 2018 offered a Buy rating with a price target of $4. Laidlaw was of a view on November 15, 2017 that the stock is Buy, while ROTH Capital gave the stock Buy rating on June 05, 2017, issuing a price target of $5.50. Laidlaw on their part issued Buy rating on March 27, 2017.


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