As of Thursday, NovaBay Pharmaceuticals Inc.’s (AMEX:NBY) stock closed at $0.28, up from $0.27 the previous day. While NovaBay Pharmaceuticals Inc. has overperformed by 4.95%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NBY fell by -55.72%, with highs and lows ranging from $0.77 to $0.17, whereas the simple moving average fell by -15.18% in the last 200 days.
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On September 18, 2019, Ladenburg Thalmann started tracking NovaBay Pharmaceuticals Inc. (AMEX: NBY) recommending Buy. A report published by H.C. Wainwright on July 06, 2018, Reiterated its previous ‘Buy’ rating for NBY. Laidlaw also reiterated NBY shares as ‘Buy’, quoting a target price of $8 on the company’s shares in a report dated November 15, 2017. ROTH Capital Initiated an Buy rating on June 05, 2017, and assigned a price target of $5.50. Laidlaw initiated its ‘Buy’ rating for NBY, as published in its report on March 27, 2017. Rodman & Renshaw’s report from February 06, 2017 suggests a price prediction of $6 for NBY shares, giving the stock a ‘Buy’ rating. Maxim Group also rated the stock as ‘Hold’.
Analysis of NovaBay Pharmaceuticals Inc. (NBY)
Further, the quarter-over-quarter increase in sales is 44.40%, showing a positive trend in the upcoming months.
One of the most important indicators of NovaBay Pharmaceuticals Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -43.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and NBY is recording 638.52K average volume. On a monthly basis, the volatility of the stock is set at 14.19%, whereas on a weekly basis, it is put at 14.78%, with a gain of 26.19% over the past seven days. Furthermore, long-term investors anticipate a median target price of $3.10, showing growth from the present price of $0.28, which can serve as yet another indication of whether NBY is worth investing in or should be passed over.
How Do You Analyze NovaBay Pharmaceuticals Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 3.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in NBY shares?
The recent increase in stakes in NBY appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in NBY has decreased by 0.00% in the first quarter. The company now owns 591,588 shares of the stock, with a value of $0.15 million, following the sale of 0 additional shares during the last quarter. Renaissance Technologies LLC made another increased to its shares in NBY during the first quarter, upping its stake by 57.55%. During the last quarter, the company picked up 73,500 additional shares for a total stake of worth $50306.0, bringing number of shares owned by the company to 201,222.
During the first quarter, Virtu Financial BD LLC added a 118,099 position in NBY. Bridgeway Capital Management LLC sold an additional 0.0 shares in the last quarter, decreasing its holdings by 0.00%, now holding 0.15 million shares worth $38750.0. At the end of the first quarter, Geode Capital Management LLC decreased its NBY holdings by 0.00% and now holds 0.15 million NBY shares valued at $36830.0 with the lessened 0.0 shares during the period. NBY shares are owned by institutional investors to the tune of 3.00% at present.