The Beauty Health Company (NASDAQ:SKIN – Get Rating) shares dropped 10.1% on Friday . The company traded as low as $12.89 and last traded at $12.90. Approximately 35,121 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 1,424,383 shares. The stock had previously closed at $14.35.
Analysts Set New Price Targets
SKIN has been the topic of a number of recent research reports. Canaccord Genuity Group cut their price objective on shares of Beauty Health from $22.00 to $20.00 in a report on Thursday, June 30th. DA Davidson cut their price objective on shares of Beauty Health from $35.00 to $24.00 in a report on Wednesday, May 11th. Canaccord Genuity Group cut their price target on shares of Beauty Health from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Finally, Piper Sandler cut their price target on shares of Beauty Health from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.78.
Beauty Health Stock Down 10.1 %
The firm has a market capitalization of $1.93 billion, a PE ratio of -3.79 and a beta of 1.67. The business’s 50 day simple moving average is $12.91 and its 200 day simple moving average is $14.59. The company has a current ratio of 14.25, a quick ratio of 13.57 and a debt-to-equity ratio of 2.14.
Beauty Health (NASDAQ:SKIN – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Beauty Health had a negative return on equity of 0.01% and a negative net margin of 117.84%. The business had revenue of $75.40 million during the quarter, compared to analysts’ expectations of $68.15 million. Beauty Health’s quarterly revenue was up 58.7% on a year-over-year basis. On average, equities research analysts forecast that The Beauty Health Company will post 0.06 earnings per share for the current year.
Hedge Funds Weigh In On Beauty Health
A number of institutional investors and hedge funds have recently made changes to their positions in SKIN. William Blair Investment Management LLC boosted its stake in shares of Beauty Health by 232.2% during the 4th quarter. William Blair Investment Management LLC now owns 6,251,906 shares of the company’s stock worth $151,046,000 after purchasing an additional 4,370,217 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Beauty Health during the 1st quarter worth about $28,090,000. Senvest Management LLC boosted its stake in shares of Beauty Health by 2,693.7% during the 4th quarter. Senvest Management LLC now owns 1,396,867 shares of the company’s stock worth $33,748,000 after purchasing an additional 1,346,867 shares during the period. Invesco Ltd. boosted its stake in shares of Beauty Health by 33.8% during the 4th quarter. Invesco Ltd. now owns 4,612,468 shares of the company’s stock worth $111,437,000 after purchasing an additional 1,164,268 shares during the period. Finally, Luxor Capital Group LP boosted its stake in shares of Beauty Health by 29.7% during the 4th quarter. Luxor Capital Group LP now owns 4,108,912 shares of the company’s stock worth $99,271,000 after purchasing an additional 941,138 shares during the period. 72.01% of the stock is owned by hedge funds and other institutional investors.
About Beauty Health
The Beauty Health Company designs, develops, manufactures, markets, and sells aesthetic technologies and products worldwide. The company’s flagship product includes HydraFacial that enhance the skin to cleanse, peel, exfoliate, extract, infuse, and hydrate the skin with proprietary solutions and serums.
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