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

StockNews.com assumed coverage on shares of NovaBay Pharmaceuticals (NYSE:NBY) in a research note issued to investors on Friday morning. The brokerage issued a hold rating on the stock.

NovaBay Pharmaceuticals Price Performance

NYSE NBY 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 50 day simple moving average of $0.60 and a two-hundred day simple moving average of $0.63. The stock has a market capitalization of $3.49 million, a PE ratio of -0.01 and a beta of 0.90.

Insider Buying and Selling

In other NovaBay Pharmaceuticals news, major shareholder Poplar Point Capital Partners acquired 70,685 shares of the company’s stock in a transaction on Friday, January 31st. The stock was acquired at an average cost of $0.65 per share, with a total value of $45,945.25. Following the purchase, the insider now directly owns 620,685 shares of the company’s stock, valued at approximately $403,445.25. This represents a 12.85 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.

About NovaBay Pharmaceuticals

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.