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

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NovaBay Pharmaceuticals, Inc. (NBY) is headed down in the market today. The stock, one that is focused on the biotech sector, is presently priced at $0.53 after heading down -8.95% so far today. When it comes to biotech companies, there are several factors that have the potential to cause declines in the market. One of the most common is news. Here are the recent stories associated with NBY:

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Nov-07-19 04:05PM NovaBay Pharmaceuticals Reports 2019 Third Quarter Financial Results
Nov-04-19 06:50AM NovaBay Pharmaceuticals Launches Online Sales of CelleRx® Skin Cleanser for Post-Aesthetic Dermatology and Cosmetic Surgery Procedures
Oct-31-19 06:50AM NovaBay Pharmaceuticals to Hold Third Quarter 2019 Conference Call on November 7, 2019
Oct-28-19 06:50AM NovaBay Pharmaceuticals to Distribute the NuLids System® for the Treatment of Dry Eye in Certain U.S. Geographies
Sep-24-19 02:20PM Market Morning: Prorogation Ruled Rogue, High Demand for Fed Repo, New Breast Cancer Tests

However, any time investors are making an investing decision, investors should focus on much more than just news, this is especially the case in the speculative biotech sector. Here’s what’s going on with NovaBay Pharmaceuticals, Inc..

Trends That We’ve Seen From NBY

While a move down on a single session, like what we’re seeing from NovaBay Pharmaceuticals, Inc. might lead to fear in some investors, a single session move alone shouldn’t be the reason for a decision to, or not to, buy a company’s stock. It is always smart to look at trends experienced by the stock beyond a single trading day. In the case of NBY, below are the movements that investors have experienced:

  • Past 5 Sessions – Throughout the last 5 trading sessions, NBY has produced a change in value in the amount of -23.46%.
  • Past Month – The return on investment from NovaBay Pharmaceuticals, Inc. over the past 30 days has been -16.61%.
  • Quarterly – In the last 3 months, the stock has produced a ROI that comes to -26.19%
  • Past Six Months – In the past 6 months, we’ve seen a change that equates to 25.74% from the stock.
  • This Year So Far – Since the open of this year NBY has produced a return of -31.66%.
  • Annually – Lastly, over the last year, we have seen movement of -48.23% out of NBY. Over this period, the stock has traded at a high of -86.93% and a low price of 130.61%.

Ratios To Watch

Looking at a few ratios having to do with a company generally gives prospective traders a look of how risky and/or potentially profitable a an investment option may be. Below are a few of the most important ratios to think about when digging into NBY.

Short Ratio – The short ratio is a measure of short interest. The higher this ratio, the more investors believe that the price of the stock is going to fall. In general, biotechnology stocks can have a higher short ratio. On the other hand, we also tend to see a lot of short squeezes in the space. Nonetheless, with regard to NovaBay Pharmaceuticals, Inc., it’s short ratio comes to 0.36.

Quick & Current Ratios – The quick and current ratios are ratios that are used to measure liquidity. Basically, they measure whether or not a company can pay its debts as they mature based on current assets or quick assets. Because many biotech many companies are heavily reliant on the continuation of investor support, the quick and current ratios can look bad. Nonetheless, several good picks in the biotechnology industry do have strong quick and current ratios. As far as NBY, the quick and current ratios add up to 2.00 and 2.20 respectively.  

Book To Share Value – The book to share value ratio compares the the price of shares to the current book value of assets that are owned by the company. In this particular case, the book to share value ratio works out to 0.09.

Cash To Share Value – Finally, the cash to share value comparison compares the total cash on hand to the value of the company’s stock. Several early stage biotechnology companies struggle to keep cash on hand. So, if you’re interested in a stock in the biotechnology sector, this is an important ratio to think about. In this case, the cash to share value ratio is 0.12.

How Analysts Feel About NovaBay Pharmaceuticals, Inc.

Although it’s rarely a smart idea to blindly follow the thoughts of analysts, it is a good idea to use their analysis in order to validate your own due diligence before making an investment decision in the biotech sector. Below you’ll find the most recent moves that we have seen from analysts as it relates to NBY.

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Sep-18-19 Initiated Ladenburg Thalmann Buy $1.10
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

Is Big Money Interested In NovaBay Pharmaceuticals, Inc.

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 – As it stands now, institutional investors own 17.90% of NovaBay Pharmaceuticals, Inc.. Nonetheless, it is worth noting that the ownership held by institutions has seen a move of 222.52% throughout the last 3 months.
  • Investors On The Inside – with regard to insiders, those close to the company currently own 46.20% of the company. Their ownership of the company has changed in the amount of -3.15% over the past 3 months.

What You Need To Know About Share Counts

Investors and traders tend to be interested in the amounts of shares both available and outstanding. With respect to NovaBay Pharmaceuticals, Inc., there are currently 31.15M and there is a float of 13.82M. These numbers mean that of the total of 31.15M shares of NBY currently in existence today, 13.82M are available to trade hands by the public.

I also find it important to follow the short float. Think about it, if a high portion of the float is sold short, the overall feeling among investors is that the stock is headed for a deep dive. In regard to NBY, the percentage of the float that is shorted is 2.34%. Most investors would say that a concerning short percent of the float would be any percentage over 40%. In my research, I’ve calculated that anything over 26% is usually a a play that could prove to be very risky.

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 $-0.23. 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 $29.20% with earnings coming in at 48.30%. On a quarter over quarter basis, earnings have seen movement of -44.50% and revenue has seen movement of -35.70%.

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