Reviewing The Case For Novabay Pharmaceuticals Inc (NBY) Going Higher

Currently, there are 30.10M common shares owned by the public and among those 29.36M shares have been available to trade.

The company’s stock has a 5-day price change of 0.72% and -38.22% over the past three months. NBY shares are trading -31.86% year to date (YTD), with the 12-month market performance down to -90.97% lower. It has a 12-month low price of $0.12 and touched a high of $1.95 over the same period. NBY has an average intraday trading volume of 3.31 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 -1.95%, -7.30%, and -65.72% respectively.

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Institutional ownership of Novabay Pharmaceuticals Inc (AMEX: NBY) shares accounts for 3.95% of the company’s 30.10M shares outstanding.

It has a market capitalization of $4.18M and a beta (3y monthly) value of 2.00. The earnings-per-share (ttm) stands at -$6.83. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.44% over the week and 7.64% over the month.

Analysts forecast that Novabay Pharmaceuticals Inc (NBY) will achieve an EPS of -$0.3 for the current quarter, -$0.2 for the next quarter and -$0.73 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.3 while analysts give the company a high EPS estimate of -$0.3. Comparatively, EPS for the current quarter was -$0.78 a year ago.

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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