Future Outlook And Novabay Pharmaceuticals Inc Stock Price Performance

In the last trading session, 1.48 million shares of the Novabay Pharmaceuticals Inc (AMEX:NBY) were traded, and its beta was 2.00. Most recently the company’s share price was $0.10, and it changed around $0.0 or -0.67% from the last close, which brings the market valuation of the company to $3.14M. NBY currently trades at a discount to its 52-week high of $1.95, offering almost -1850.0% off that amount. The share price’s 52-week low was $0.10. We note from Novabay Pharmaceuticals Inc’s average daily trading volume that its 10-day average is 2.92 million shares, with the 3-month average coming to 3.62 million.

Novabay Pharmaceuticals Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended NBY as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Novabay Pharmaceuticals Inc is expected to report earnings per share of -$0.2 for the current quarter.

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Novabay Pharmaceuticals Inc (AMEX:NBY) trade information

Instantly NBY has showed a red trend with a performance of -0.67% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -48.92% year-to-date, but still down -19.16% over the last five days. On the other hand, Novabay Pharmaceuticals Inc (AMEX:NBY) is -31.67% down in the 30-day period. We can see from the shorts that 0.12 million shares have been sold at a short interest cover period of 0.06 day(s).

Novabay Pharmaceuticals Inc (NBY) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 76.50% in revenue this quarter, and will report an increase of 84.30% in the next quarter. The year-over-year growth rate is expected to be 8.70%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $4 million in revenue for the current quarter. 1 analysts expect Novabay Pharmaceuticals Inc to make $4 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 25.00%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 24.47%.

NBY Dividends

Novabay Pharmaceuticals Inc’s next quarterly earnings report is expected to be released in May.

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

Upon looking at major shareholders, it appears that insiders hold 0.53% of Novabay Pharmaceuticals Inc shares, and 3.95% of them are in the hands of institutional investors. The stock currently has a share float of 3.97%. Novabay Pharmaceuticals Inc stock is held by 24 institutions, with Renaissance Technologies, LLC being the largest institutional investor. By Jun 29, 2023, it held 1.07% of the shares, which is about 44923.0 shares worth $33791.0.

Tower Research Capital LLC (TRC), with 0.27% or 11193.0 shares worth $8419.0 as of Jun 29, 2023, 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 Jun 29, 2023. The former held 9912.0 shares worth $7455.0, making up 0.24% of all outstanding shares. On the other hand, Fidelity Extended Market Index Fund held roughly 3965.0 shares worth around $2576.0, which represents about 0.09% of the total shares outstanding.