Beauty Health (NASDAQ:SKIN) Stock Price Up 1.4% – Here’s What Happened

Shares of The Beauty Health Company (NASDAQ:SKIN) shot up 1.4% during trading on Monday . The stock traded as high as $0.70 and last traded at $0.6719. Approximately 565,038 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 858,688 shares. The stock had previously closed at $0.6628.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Benchmark restated a “hold” rating on shares of Beauty Health in a research report on Friday, March 13th. Roth Mkm reiterated a “buy” rating and issued a $2.00 price target (down from $2.50) on shares of Beauty Health in a report on Wednesday, May 20th. Zacks Research upgraded shares of Beauty Health from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. TD Cowen dropped their price objective on shares of Beauty Health from $1.65 to $1.50 and set a “hold” rating for the company in a report on Monday, March 16th. Finally, Canaccord Genuity Group cut their price objective on Beauty Health from $1.50 to $1.00 and set a “hold” rating for the company in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Beauty Health currently has a consensus rating of “Hold” and an average price target of $2.02.

Beauty Health Trading Down 1.9%

The firm has a market cap of $84.76 million, a P/E ratio of -3.85 and a beta of 1.09. The stock has a 50 day simple moving average of $0.75 and a 200-day simple moving average of $1.07. The company has a current ratio of 1.79, a quick ratio of 1.48 and a debt-to-equity ratio of 4.37.

Beauty Health (NASDAQ:SKIN) last posted its earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. Beauty Health had a negative return on equity of 9.38% and a negative net margin of 2.03%.The firm had revenue of $64.91 million during the quarter, compared to the consensus estimate of $66.28 million. On average, equities research analysts expect that The Beauty Health Company will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Beauty Health

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new position in Beauty Health during the first quarter worth $40,000. Goldman Sachs Group Inc. raised its stake in shares of Beauty Health by 5.0% in the first quarter. Goldman Sachs Group Inc. now owns 665,706 shares of the company’s stock valued at $892,000 after acquiring an additional 31,880 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Beauty Health by 27.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,302,784 shares of the company’s stock worth $4,399,000 after acquiring an additional 496,963 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Beauty Health by 54.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 54,226 shares of the company’s stock worth $104,000 after acquiring an additional 19,032 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Beauty Health by 28.6% during the 2nd quarter. Rhumbline Advisers now owns 141,982 shares of the company’s stock worth $271,000 after purchasing an additional 31,565 shares during the period. Institutional investors own 93.26% of the company’s stock.

About Beauty Health

Beauty Health Company (NASDAQ: SKIN) is a U.S.-based consumer wellness and beauty enterprise that integrates device-based and product-based offerings across skin, body and hair wellness categories. The company operates a portfolio of established brands that blend professional and at-home solutions, focusing on innovative formulations and technologies to address a range of beauty and self-care needs. Through its proprietary e-commerce platforms and strategic retail partnerships, Beauty Health seeks to deliver premium experiences and tangible results to a global customer base.

Beauty Health’s brand portfolio includes Sol de Janeiro, known for its award-winning Brazilian Bum Bum Cream body care collection; Elemis, a U.K.-originated professional skin care line distributed in spas and skincare clinics; NuFACE and Dermaflash, two at-home beauty device brands specializing in microcurrent facial toning and gentle exfoliation respectively; and Nutrafol, a legal-strength hair wellness supplement clinically designed to support hair growth.