In the last trading session, 24,618,628 shares of the NovaBay Pharmaceuticals, Inc.(NYSE:NBY) were traded, and its beta was 3.85. Most recently the company’s share price was $1.42, and it changed around $0.15 or 0.12% from the last close, which brings the market valuation of the company to $59.33 Million. NBY currently trades at a discount to its 52-week high of $1.94, offering almost -36.62% off that amount. The share price’s 52-week low was $0.24, which indicates that the current value has risen by an impressive 83.1% since then. We note from NovaBay Pharmaceuticals, Inc.’s average daily trading volume that its 10-day average is 17.18 Million shares, with the 3-month average coming to 4.32 Million.
NovaBay Pharmaceuticals, Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.5. If we narrow it down even further, the data shows that none out of 2 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended NBY as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. NovaBay Pharmaceuticals, Inc. is expected to report earnings per share of -$0.04 for the current quarter.
NovaBay Pharmaceuticals, Inc. (NYSE:NBY): Trading Information
Instantly NBY has showed a green trend with a performance of 11.81% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $1.79 on Thursday, Feb 18 increased the stock’s daily price by 20.67%. The company’s shares are currently up 1.04% year-to-date, but still up 0.1933 over the last five days. On the other hand, NovaBay Pharmaceuticals, Inc. (NYSE:NBY) is 0.41% up in the 30-day period. We can see from the shorts that 1.11 Million shares have been sold at a short interest cover period of 0.26 day(s).
The consensus price target as assigned by Wall Street analysts is $2.63, which translates to bears needing to increase their stock price by 85.21% from its current value. Analyst projections state that NBY is forecast to be at a low of $1.75 and a high of $3.5. In order for the stock price to hit the forecast high, the stock would need to surge +146.48% from its current level, while the stock would need to crash 23.24% from its current level to reach the projected low.
NovaBay Pharmaceuticals, Inc. (NBY) projections and forecasts
NovaBay Pharmaceuticals, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +42.79 percent over the past six months and at a 33.33% annual growth rate that is well above the industry average of 17.3%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +69.2% in revenue this quarter, and will report an increase of 33.3% in the next quarter. The year-over-year growth rate is expected to be 59.1%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $2.48 Million in revenue for the current quarter. 2 analysts expect NovaBay Pharmaceuticals, Inc. to make $2.69 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarter a year ago was $1.7 Million. Analysts predict that the company’s current quarter sales will jump, forecast at 45.5%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 42.4%. NovaBay Pharmaceuticals, Inc. earnings are expected to decrease by -25.3% in 2021, but the outlook is negative 0% per year for the next five years.
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NovaBay Pharmaceuticals, Inc. (NYSE:NBY)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 25.21% of NovaBay Pharmaceuticals, Inc. shares, and 6.2% of them are in the hands of institutional investors. The stock currently has a share float of 8.3%. NovaBay Pharmaceuticals, Inc. stock is held by 26 institutions, with Renaissance Technologies, LLC being the largest institutional investor. By Dec 30, 2020, it held 0.96% of the shares, which is about 400.39 Thousand shares worth $279.07 Thousand.
Vanguard Group, Inc. (The), with 0.38% or 160.22 Thousand shares worth $111.68 Thousand as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund were the top two Mutual Funds as of Sep 29, 2020. The former held 120224 shares worth $87.76 Thousand, making up 0.29% of all outstanding shares. On the other hand, Fidelity Extended Market Index Fund held roughly 65.66 Thousand shares worth around $45.76 Thousand, which represents about 0.16% of the total shares outstanding.