NovaBay Pharmaceuticals, Inc. (NBY) Stock: Here’s Why It’s Up

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NovaBay Pharmaceuticals, Inc. (NBY) is headed up in the market in today’s trading session. The company, focused in the biotechnology industry, is currently priced at $1.40 after a move up of 5.26% so far in today’s session. As it relates to biotechnology stocks, there are a number of factors that have the ability to cause movement in the market. One of the most common is news. Here are the recent headlines relating to NBY:

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Mar-12-19 04:05PM NovaBay Pharmaceuticals Announces Strategic Shift in U.S. Avenova Commercialization Strategy
10:30AM Analysts Estimate NovaBay Pharmaceuticals (NBY) to Report a Decline in Earnings: What to Look Out for
Jan-07-19 06:50AM NovaBay Pharmaceuticals Announces Preliminary 2018 Net Sales and Introduces 2019 Net Sales Guidance
Nov-14-18 04:05PM NovaBay Pharmaceuticals Reports Third Quarter 2018 Financial Results
Nov-07-18 06:50AM NovaBay Pharmaceuticals to Hold Third Quarter 2018 Conference Call on November 14, 2018

Nonetheless, any time investors are making a decision with regard to investing, investors should take a look at far more than news, especially in the highly speculative biotechnology industry. Here’s what’s happing when it comes to NovaBay Pharmaceuticals, Inc..

Trends That We’ve Seen From NBY

While a gain in a single session, like the gain that we’re seeing from NovaBay Pharmaceuticals, Inc. may lead to excitement in some investors, that alone should not be the basis of a decision to, or not to, invest in a company. It is always important to look into trends experienced by the stock further out than a single trading session. When it comes to NBY, below are the returns that we’ve seen:

  • Past Seven Days – In the past week, NBY has produced a change in value amounting to -1.54%.
  • Past Month – The monthly performance from NovaBay Pharmaceuticals, Inc. has been -8.01%.
  • Past 3 Months – Throughout the last three months, the company has produced a return of 30.18%
  • Past Six Months – Over the last 6 months, investors have seen a change of 0.00% from the company.
  • This Year So Far – Since the close of last year NBY has resulted in a return on investment of 81.18%.
  • Full Year – Finally, in the last full year, we have seen movement that comes to -61.46% from NBY. Over this period, the stock has sold at a high price of -62.67% and a low price of 97.18%.

Ratios To Watch

Looking at a few ratios associated with a company can give prospective traders a view of how dangerous and/or potentially profitable a pick might be. Here are some of the important ratios to consider when digging into NBY.

Short Ratio – The short ratio is a tool that’s used by investors to measure the level of short interest. As the ratio goes higher, it shows that more investors are expecting that the stock is going to fall. Throughout the sector, biotech stocks can come with a higher short ratio. On the other hand, we also see quite a few short squeezes in the sector. Nonetheless, when it comes to NovaBay Pharmaceuticals, Inc., it’s short ratio comes to 1.40.

Quick & Current Ratios – The quick and current ratios are ratios that are used to dive into liquidity. Basically, they measure the company’s abilities to pay its debts as they mature based on current assets or quick assets. In the biotechnology sector, many companies rely on continued investor support, the current and quick ratios can look damning. Nonetheless, some good picks in the biotech sector come with good quick and current ratios. As far as NBY, the quick and current ratios add up to 2.70 and 2.80 respectively.  

Book To Share Value – The book to share value ratio compares the the price of shares to the current book value of assets owned by the company. In this case, that ratio comes in at 0.35.

Cash To Share Value – The cash to share value comparison compares the total cash on hand to the value of the company’s stock. Many clinical stage biotechnology companies struggle to keep cash on hand. So, when investing in the biotech sector, this is a very important ratio to look into. In the case of NBY, the cash to share value is 0.32.

Analyst Opinions With Regard To NovaBay Pharmaceuticals, Inc.

Although it’s never a good idea to blindly follow the opinions of analysts, it is a good idea to use their opinions when validating your own when it comes to making an investment decision in the biotechnology space. Below you’ll find the most recent moves that we’ve seen from analysts as it relates to NBY.

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Jul-06-18 Reiterated H.C. Wainwright Buy $4
Nov-15-17 Reiterated Laidlaw Buy $10 → $8
Jun-05-17 Initiated ROTH Capital Buy $5.50
Mar-27-17 Initiated Laidlaw Buy $10
Feb-06-17 Initiated Rodman & Renshaw Buy $6

Investors Tend To Follow The Big Money

Humans that are into investing seem to be infatuated with the term “Smart money follows big money.” It makes sense. Big money became big money by making smart decisions in the market. So, by following the moves of big money institutions and insiders, we can get a glimpse of what market pros think about a stock. When it comes to big money interest in NBY, here’s what we’re seeing:

  • Institutional Investors – At the moment, institutional investors own 1.00% of NovaBay Pharmaceuticals, Inc.. Nonetheless, it’s important to consider that institutional ownership has changed in the amount of 4.51% throughout the past 3 months.
  • Insider Moves – with regard to insiders, insiders of the company currently hold 25.78% of NovaBay Pharmaceuticals, Inc.. Insider ownership of the company has changed by 0.00% over the past 3 months.

What’s Going On With Share Counts?

Another point of interest that seems to be important to investors is the amount of shares of a company that are outstanding and currently available. At the moment, there are 16.21M shares of NovaBay Pharmaceuticals, Inc. outstanding. Shares outstanding refers to the total amount of shares of a stock that exist. As far as the float goes, or the amount of shares that are actually available on the retail market, NBY has a float of 5.15M.

I also like to pay attention to the short percent. After all, if a high portion of the float available for trading is shorted, the overall opinion among investors is that the stock is going to fall hard. In regard to NBY, the short percentage of the float is currently 0.63%. In general, concerning short percent of the float is any percentage over 40%. Nonetheless, I’ve calculated that a short percent of the float over 26% is likely a play that comes with hefty risk.

What We’ve Seen In earnings results

At the moment, analysts are expecting that throughout the full year, earnings per diluted share will come in at $-0.27. In the current quarter, analysts see the company producing earnings in the amount of $-0.08. Over the last 5 years, NBY has generated revenue in the amount of $21.30% with earnings coming in at 15.50%. On a quarter over quarter basis, earnings have seen movement of 43.60% and revenue has seen movement of -24.40%.

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