Beauty Health (NASDAQ:SKIN) Hits New 52-Week Low – What’s Next?

Shares of The Beauty Health Company (NASDAQ:SKIN) reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $10.01 and last traded at $11.1470, with a volume of 10,324 shares trading hands. The stock had previously closed at $10.8120.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings cut Beauty Health from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 23rd. Zacks Research cut Beauty Health from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, TD Cowen cut their price target on Beauty Health from $20.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.50.

Beauty Health Trading Up 6.3%

The company has a market cap of $1.50 billion, a PE ratio of -52.24 and a beta of 1.05. The business has a 50 day simple moving average of $0.65 and a two-hundred day simple moving average of $0.73. The company has a current ratio of 1.76, a quick ratio of 1.48 and a debt-to-equity ratio of 4.36.

Beauty Health (NASDAQ:SKIN) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.10. The business had revenue of $72.11 million during the quarter, compared to the consensus estimate of $74.45 million. Beauty Health had a negative return on equity of 47.83% and a negative net margin of 9.79%. On average, analysts forecast that The Beauty Health Company will post -0.16 EPS for the current fiscal year.

Institutional Trading of Beauty Health

A number of hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co purchased a new stake in Beauty Health in the 1st quarter valued at about $25,000. Bank of America Corp DE increased its stake in shares of Beauty Health by 19.2% during the 1st quarter. Bank of America Corp DE now owns 106,242 shares of the company’s stock valued at $95,000 after acquiring an additional 17,088 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Beauty Health by 29.6% during the 1st quarter. Renaissance Technologies LLC now owns 283,791 shares of the company’s stock worth $253,000 after acquiring an additional 64,900 shares during the period. Finally, Capricorn Fund Managers Ltd purchased a new position in shares of Beauty Health during the 1st quarter worth about $17,270,000. 93.26% of the stock is owned by institutional investors and hedge funds.

Beauty Health Company Profile

BeautyHealth is a global health and beauty company focused on creating technology-enabled products and experiences for skin health. Its primary brand is Hydrafacial, which offers non-invasive skin treatments that combine cleansing, exfoliation, extraction and hydration with professional-grade devices, serums and treatment boosters.

The company also provides products and systems designed for complementary aesthetic and wellness applications, including Syndeo, a connected Hydrafacial delivery system; Keravive, a scalp-health treatment; and SkinStylus, a microneedling platform.