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Novabay Pharmaceuticals Inc (AMEX: NBY) – Analysts See Things Differently Today

In the last trading session, 3.55 million Novabay Pharmaceuticals Inc (AMEX:NBY) shares changed hands as the company’s beta touched 2.03. With the company’s per share price at $0.15 changed hands at $0.01 or 8.10% during last session, the market valuation stood at $1.00M. NBY’s last price was a discount, traded about -1633.33% off its 52-week high of $2.60. The share price had its 52-week low at $0.12, which suggests the last value was 20.0% up since then. When we look at Novabay Pharmaceuticals Inc’s average trading volume, we note the 10-day average is 9.58 million shares, with the 3-month average coming to 1.40.

Novabay Pharmaceuticals Inc (AMEX:NBY) trade information

Instantly NBY was in green as seen at the end of in last trading. With action -6.00%, the performance over the past five days has been red. The jump to weekly highs of 0.1635 added 8.10% to the stock’s daily price. The company’s shares are showing year-to-date downside of -24.80%, with the 5-day performance at -6.00% in the red. However, in the 30-day time frame, Novabay Pharmaceuticals Inc (AMEX:NBY) is -12.54% down. Looking at the short shares, we see there were 0.58 million shares sold at short interest cover period of 0.1 days.

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Novabay Pharmaceuticals Inc (NBY) estimates and forecasts

Data shows that the Novabay Pharmaceuticals Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -78.94% over the past 6 months, a 74.85% in annual growth rate that is considerably higher than the industry average of 11.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Novabay Pharmaceuticals Inc will rise 61.50%, while the growth in revenue is estimated to hit 74.10% for the next quarter. Year-over-year growth is forecast to reach 1.60% up from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $3.61 million. 2 analysts are of the opinion that Novabay Pharmaceuticals Inc’s revenue for the quarter ending Mar 2024 will be $3.87 million. The company’s revenue for the corresponding quarters a year ago was $3.64 million and $3.2 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -0.90%. The estimates for the next quarter sales put growth at 20.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 9.67%. The 2024 estimates are for Novabay Pharmaceuticals Inc earnings to increase by 77.13%.

Novabay Pharmaceuticals Inc (AMEX:NBY)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 2.44% of Novabay Pharmaceuticals Inc shares while 4.41% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 4.52%. There are 4.41% institutions holding the Novabay Pharmaceuticals Inc stock share, with Renaissance Technologies, LLC the top institutional holder. As of Jun 29, 2023, the company held 1.07% of the shares, roughly 44923.0 NBY shares worth $33791.0.

Tower Research Capital LLC (TRC) holds the second largest percentage of outstanding shares, with 0.27% or 11193.0 shares worth $8419.0 as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. With 9912.0 shares estimated at $7455.0 under it, the former controlled 0.24% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.09% of the shares, roughly 3965.0 shares worth around $2576.0.

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