Buying Buzz: NovaBay Pharmaceuticals Inc. [NBY] CEO, GC and Director Hall Justin purchases 10,000 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. NovaBay Pharmaceuticals Inc. shares valued at $1,500 were purchased by Hall Justin on Sep 14. At $0.15 per share, Hall Justin acquired 10,000 shares. The insider’s holdings grew to 83,172 shares worth approximately $9980.64 following the completion of this transaction.


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Also, Kunin Jeffrey sold 291,368 shares, netting a total of over 46,094 in proceeds. Following the sale of shares at $0.16 each, the insider now holds 208,632 shares.

Before that, Kunin Audrey had sold 291,368 shares from its account. In a trade valued at $46,094, the Chief Product Officer traded NovaBay Pharmaceuticals Inc. shares for $0.16 each. Upon closing the transaction, the insider’s holdings decreased to 291,368 shares, worth approximately $25035.84.

As published in their initiating research note from Ladenburg Thalmann on September 18, 2019, NovaBay Pharmaceuticals Inc. [NBY] has been a Buy and the price target has been revised to $1.10. This represents a 89.09% premium over Wednesday’s closing price. Analysts at H.C. Wainwright resumed the stock at ‘”a Buy”‘ outlook in a report released in early July. As of November 15, 2017, Laidlaw has reiterated its “Buy” rating for NBY. Earlier on June 05, 2017, ROTH Capital initiated its rating. Their recommendation was “a Buy” for NBY stock.

Analyzing NBY’s Price Performance

On Wednesday, NovaBay Pharmaceuticals Inc. [AMEX: NBY] rose 0.49% to $0.12. The stock’s lowest price that day was $0.12, but it reached a high of $0.13 in the same session. During the last five days, there has been a drop of approximately -21.40%. Over the course of the year, NovaBay Pharmaceuticals Inc. shares have dropped approximately -67.42%. Shares of the company reached a 52-week high of $0.4277 on 01/04/22 and a 52-week low of $0.1150 on 09/21/22. A 50-day SMA is recorded $0.2350, while a 200-day SMA reached $0.2798. Nevertheless, trading volume fell to 1.51 million shares from 1.43 million shares the previous day.

Support And Resistance Levels for NovaBay Pharmaceuticals Inc. (NBY)

According to the 24-hour chart, there is a support level at 0.1151, which, if violated, would cause prices to drop to 0.1076. In the upper region, resistance lies at 0.1301. The next price resistance is at 0.1376. RSI (Relative Strength Index) is 18.11 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0512, which suggests the price will decrease in the coming days. Percent R is at 93.84%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is NovaBay Pharmaceuticals Inc. subject to short interest?

Stocks of NovaBay Pharmaceuticals Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.15 million shares to 1.24 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.39 million shares. A decline of -12.1% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.62 of the overall float, the days-to-cover ratio (short ratio) decline to 2.62.

Which companies own the most shares of NovaBay Pharmaceuticals Inc. (NBY)?

According to The Vanguard Group, Inc. filings, the company currently owns 591,588 shares, which is about 1.11% of the total NBY shares outstanding. With the completion of the buy transaction, Renaissance Technologies LLC’s stake is now worth $96,243. Geode Capital Management LLC acquire a 28.38% interest valued at $44444.0 while Bridgeway Capital Management LLC 0 stake. In its current portfolio, Townsquare Capital LLC holds 53,672 shares valued at $12613.0.

In terms of NovaBay Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $2.80 in the next 12 months, up nearly 2233.33% from the previous closing price of $0.12. Analysts anticipate NovaBay Pharmaceuticals Inc. stock to reach $3.75 by 2022, with the lowest price target being $1.85. In spite of this, 2 analysts ranked NovaBay Pharmaceuticals Inc. stock as a Buy at the end of 2022. On March 27, 2017, Laidlaw assigned a price target of “a Buy” to the stock and initiated coverage with a $10.

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