StockNews.com Initiates Coverage on NovaBay Pharmaceuticals
| NBY Stock | USD 0.59 0.04 7.27% |
Slightly above 56% of all NovaBay Pharmaceuticals' investors are looking to take a long position. The analysis of overall sentiment of trading NovaBay Pharmaceuticals stock suggests that some investors are interested at this time. NovaBay Pharmaceuticals' investing sentiment can be driven by a variety of factors including economic data, NovaBay Pharmaceuticals' earnings reports, geopolitical events, and overall market trends.
StockNews.com initiated coverage on shares of NovaBay Pharmaceuticals in a research report sent to investors on Friday. The firm issued a sell rating on the stock. NovaBay Pharmaceuticals Stock Up 9.6 percent NBY stock opened at 0.18 on Friday. The firm has a market capitalization of 1.17 million, a PE ratio
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NovaBay Pharmaceuticals Fundamental Analysis
We analyze NovaBay Pharmaceuticals' financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of NovaBay Pharmaceuticals using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of NovaBay Pharmaceuticals based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Return On Asset
Return On Asset Comparative Analysis
NovaBay Pharmaceuticals is currently under evaluation in return on asset category among its peers. Return on Asset or ROA shows how effective is the management of the company in generating income from utilizing all of the assets at their disposal. It is a useful ratio to evaluate the performance of different departments of a company as well as to understand management performance over time.
NovaBay Pharmaceuticals Potential Pair-trading
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with NovaBay Pharmaceuticals stock to make a market-neutral strategy. Peer analysis of NovaBay Pharmaceuticals could also be used in its relative valuation, which is a method of valuing NovaBay Pharmaceuticals by comparing valuation metrics with similar companies.
Peers
NovaBay Pharmaceuticals Related Equities
| CNSP | Cns Pharmaceuticals | 6.14 | ||||
| ENVB | Enveric Biosciences | 5.15 | ||||
| PHIO | Phio Pharmaceuticals | 2.84 | ||||
| ZURA | Zura Bio | 2.48 | ||||
| ZVSA | ZyVersa Therapeutics | 1.89 | ||||
| SONN | Sonnet Biotherapeutics | 3.01 | ||||
| PALI | Palisade Bio | 5.19 | ||||
| IMMX | Immix Biopharma | 5.26 |
Additional Tools for NovaBay Stock Analysis
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