The share price of NovaBay Pharmaceuticals Inc. (NBY) reflects an accumulation close to an all-time low, while bulls attempt to limit the decline. However, sellers dominate the trend, dragging the price down on many occasions
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Current performance of NBY
Over the past year, the price of NBY shares has fallen by 84.29% and has fallen by 95% over the two-year period. The expectation of quarterly earnings, scheduled for November 9, could be a turning point for the trend
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Earnings Analysis Before
The quarterly results are essential to understand the possible change in the NovaBay share price trend. Analysts estimate revenues of 3.547 million dollars and a negative earnings forecast of 0.045 dollars per share. Better results could positively influence the price.
NBY Stock Price Forecasts
Analysts offer different projections for both 2023 and 2024. In 2023, forecasts range from a high of 120 dollars to a low of 0.220 dollars. 2024 estimates indicate a potential upside of up to 9.60 dollars or a minimum projection of 3.6 dollars
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Conclusion and Future Perspectives
The price of NBY shares has fallen considerably in recent weeks, but the future direction will depend on the next quarterly results. A positive outcome could restore investor confidence and positively influence the price
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Analysts’ projections for 2024 vary, indicating a potential maximum of $9.60 if optimistic conditions occur. However, the price broke below the main 50-day and 200-day EMAs.
Technical Levels:
- Supports: $0.311 and $0.20
