Novabay Pharmaceuticals Inc (NBY) Shares Up Despite Recent Market Volatility

Novabay Pharmaceuticals Inc (AMEX: NBY) has seen a rise in its stock price by 0.10 in relation to its previous close of 0.10. However, the company has experienced a -24.96% decline in its stock price over the last five trading sessions. Business Wire reported 2024-03-25 that EMERYVILLE, Calif.–(BUSINESS WIRE)–NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY) announces that it will report financial results for the three and 12 months ended December 31, 2023 after market close on Tuesday, March 26, 2024 and will hold an investment community conference call that day beginning at 4:30 p.m. Eastern time. Date/Time:   Tuesday, March 26, 4:30 p.m. ET / 1:30 p.m. PT       Pre-Registration:   Participants can pre-register for the conference call here:           Callers.

Is It Worth Investing in Novabay Pharmaceuticals Inc (AMEX: NBY) Right Now?

Moreover, the 36-month beta value for NBY is 2.00. Analysts have varying opinions on the stock, with 4 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for NBY is 29.36M and currently, short sellers hold a 0.40% of that float. On April 04, 2024, NBY’s average trading volume was 3.62M shares.

NBY’s Market Performance

NBY stock saw a decrease of -24.96% in the past week, with a monthly decline of -30.51% and a quarterly a decrease of -46.40%. The volatility ratio for the week is 10.19%, and the volatility levels for the last 30 days are 8.24% for Novabay Pharmaceuticals Inc (NBY). The simple moving average for the last 20 days is -21.41% for NBY stock, with a simple moving average of -73.31% for the last 200 days.

Analysts’ Opinion of NBY

Many brokerage firms have already submitted their reports for NBY stocks, with Ladenburg Thalmann repeating the rating for NBY by listing it as a “Buy.” The predicted price for NBY in the upcoming period, according to Ladenburg Thalmann is $1.10 based on the research report published on September 18, 2019 of the previous year 2019.

H.C. Wainwright, on the other hand, stated in their research note that they expect to see NBY reach a price target of $4. The rating they have provided for NBY stocks is “Buy” according to the report published on July 06th, 2018.

Laidlaw gave a rating of “Buy” to NBY, setting the target price at $8 in the report published on November 15th of the previous year.

NBY Trading at -28.14% from the 50-Day Moving Average

After a stumble in the market that brought NBY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -94.65% of loss for the given period.

Volatility was left at 8.24%, however, over the last 30 days, the volatility rate increased by 10.19%, as shares sank -29.53% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -33.14% lower at present.

During the last 5 trading sessions, NBY fell by -24.96%, which changed the moving average for the period of 200-days by -84.55% in comparison to the 20-day moving average, which settled at $0.1305. In addition, Novabay Pharmaceuticals Inc saw -48.87% in overturn over a single year, with a tendency to cut further losses.

Stock Fundamentals for NBY

Current profitability levels for the company are sitting at:

  • -0.34 for the present operating margin
  • 0.54 for the gross margin

The net margin for Novabay Pharmaceuticals Inc stands at -0.79. The total capital return value is set at -1.05. Equity return is now at value -139.03, with -75.81 for asset returns.

Based on Novabay Pharmaceuticals Inc (NBY), the company’s capital structure generated 0.45 points at debt to capital in total, while cash flow to debt ratio is standing at -1.47.

Currently, EBITDA for the company is -4.8 million with net debt to EBITDA at 0.08. When we switch over and look at the enterprise to sales, we see a ratio of 0.19. The receivables turnover for the company is 19.39for trailing twelve months and the total asset turnover is 1.63. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.67.

Conclusion

To wrap up, the performance of Novabay Pharmaceuticals Inc (NBY) has been bad in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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