NovaBay Pharma Implements Reverse Stock Split of Shares

NovaBay Pharma ( (NBY) ) just unveiled an announcement.

On February 20, 2026, NovaBay Pharmaceuticals implemented a 1‑for‑5 reverse stock split of its common shares following prior approval from shareholders on October 16, 2025 and subsequent board authorization on February 11, 2026. The reverse split became effective at 4:15 p.m. Eastern and combined every five issued and outstanding shares into one share without changing the par value.

No fractional shares were issued; instead, investors who would have received fractional shares were granted an additional whole share, leaving each stockholder’s ownership percentage in the company essentially unchanged. Authorized common shares remain at 1.5 billion, and NovaBay’s stock will begin trading on a split‑adjusted basis on the NYSE American under the unchanged symbol “NBY” on February 23, 2026, with a new CUSIP assigned to the shares.

The most recent analyst rating on (NBY) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on NovaBay Pharma stock, see the NBY Stock Forecast page.

Spark’s Take on NBY Stock

According to Spark, TipRanks’ AI Analyst, NBY is a Neutral.

The score is primarily held down by weak financial performance (shrinking revenue, very large operating losses, and heavy cash burn). Technicals add near-term weakness with the stock below key short-term moving averages and low momentum readings. Valuation is difficult to assess favorably due to a negative P/E and no dividend, while recent financing-related corporate events raise dilution and strategic risk despite improving access to capital.

To see Spark’s full report on NBY stock, click here.

More about NovaBay Pharma

NovaBay Pharmaceuticals, Inc. is a healthcare company listed on the NYSE American under the ticker “NBY.” The company operates in the pharmaceuticals and medical products space, with its common stock widely held by public investors and subject to U.S. securities regulations governing corporate actions and capital structure changes.

Average Trading Volume: 2,017,280

Technical Sentiment Signal: Strong Sell

Current Market Cap: $56.28M

For detailed information about NBY stock, go to TipRanks’ Stock Analysis page.