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Tuesday, November 24, 2020

NovaBay Pharmaceuticals Inc. (AMEX:NBY) Stock is Soaring, Here is Why

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NovaBay Pharmaceuticals Inc. (NBY) shares are trading at higher $1.07 and the avg recommendation for the stock is Strong Buy.

To add more color to this target, the company’s high over the last year is $1.94 and the low is $0.24. Over the last 52 weeks, NBY is down -44.85% while the S&P 500 is down -0.42%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, NBY reported a profit of $1.94 million. NovaBay Pharmaceuticals Inc. also saw revenues increase to $3.98 million. In addition, NBY has free cash flow of -$1.91 million as of 06-2020. The company’s EBITDA came in at -$0.91 million which compares well with its peers.

NBY Return on Equity (ROE) is -868.20%, and its Return on Assets is -81.00%. All told, it is clear that, NBY needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. NBY has a short ratio of 0.08 and outstanding shares of 30.38M.

Company Outlook

NBY has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -0.34. NovaBay Pharmaceuticals Inc. NBY also noted assets of $13.27 million at the end of the last quarter. Investors should also keep an eye on sector updates as NBY has historically followed its peers on positive news.

All told, NovaBay Pharmaceuticals Inc. NBY has strung together solid data and demonstrated underlying fundamentals. At its current valuation, NBY represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

NovaBay Pharmaceuticals Inc. NBY is now commanding a market cap of 46.31M and a float of 26.27M. NBY is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of NBY stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in NBY, either long or short, and we have not been compensated for this article.

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