Short Interest in NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) Declines By 64.0%

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 333,120 shares, a drop of 64.0% from the February 26th total of 926,133 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average daily trading volume, of 388,359 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily trading volume, of 388,359 shares, the days-to-cover ratio is presently 0.9 days. Approximately 2.2% of the company’s stock are short sold.

NovaBay Pharmaceuticals Stock Up 8.7%

Shares of NYSEAMERICAN:NBY opened at $1.50 on Wednesday. The firm has a 50 day moving average of $10.61 and a 200 day moving average of $12.66. The company has a market capitalization of $39.93 million, a price-to-earnings ratio of -0.15 and a beta of 0.25. NovaBay Pharmaceuticals has a 52 week low of $1.11 and a 52 week high of $99.75.

NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) last announced its quarterly earnings results on Thursday, March 26th. The biopharmaceutical company reported ($7.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($7.40). On average, sell-side analysts expect that NovaBay Pharmaceuticals will post -2.54 EPS for the current year.

Hedge Funds Weigh In On NovaBay Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC bought a new position in NovaBay Pharmaceuticals in the third quarter worth about $35,000. Ground Swell Capital LLC bought a new stake in shares of NovaBay Pharmaceuticals in the 3rd quarter valued at about $25,000. C2C Wealth Management LLC bought a new stake in shares of NovaBay Pharmaceuticals in the 4th quarter valued at about $254,000. Geode Capital Management LLC grew its position in shares of NovaBay Pharmaceuticals by 2,331.7% in the 4th quarter. Geode Capital Management LLC now owns 1,257,705 shares of the biopharmaceutical company’s stock worth $7,098,000 after buying an additional 1,205,984 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of NovaBay Pharmaceuticals in the 4th quarter worth approximately $588,000. Hedge funds and other institutional investors own 23.25% of the company’s stock.

NovaBay Pharmaceuticals Company Profile

NovaBay Pharmaceuticals, Inc is a clinical-stage biotechnology company focused on developing and commercializing novel, non-antibiotic anti-infective products designed to regulate the innate immune response. Leveraging its proprietary Aganocide® Technology, the company’s synthetic antimicrobial compounds target and neutralize pathogens without contributing to antibiotic resistance. NovaBay’s research and development efforts concentrate on ophthalmic, dermatological and wound care applications, aiming to address unmet needs in infection control and inflammation management.

The company’s primary commercial products include Avenova®, an eyelid and lash cleaning solution indicated for managing chronic blepharitis and meibomian gland dysfunction, and NeutroPhase®, a pure hypochlorous acid wound and skin cleanser used in acute and chronic wound irrigation.