NovaBay Pharmaceuticals (NYSE:NBY) Stock Price Up 0.3% – Still a Buy?

NovaBay Pharmaceuticals, Inc. (NYSE:NBY)’s share price rose 0.3% during mid-day trading on Tuesday . The company traded as high as $0.60 and last traded at $0.60. Approximately 18,170 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 137,496 shares. The stock had previously closed at $0.59.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen started coverage on shares of NovaBay Pharmaceuticals in a research note on Tuesday, May 20th. They issued a “hold” rating on the stock.

NovaBay Pharmaceuticals Stock Performance

The firm’s 50 day simple moving average is $0.57 and its 200-day simple moving average is $0.60. The company has a market cap of $3.47 million, a price-to-earnings ratio of -0.01 and a beta of 0.43.

Insiders Place Their Bets

In related news, major shareholder Poplar Point Capital Partners acquired 49,400 shares of the stock in a transaction dated Friday, March 28th. The stock was acquired 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 in the company, valued at $579,500. This represents a 5.49% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired 135,032 shares of company stock worth $82,248 over the last three months. Company insiders own 0.10% of the company’s stock.

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.