The Beauty Health Company (NASDAQ:SKIN) Stock Short Interest Report for October

The Beauty Health Company (NASDAQ:SKIN) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 375,655 shares, a decline of 94.8% from the September 30th total of 7,247,126 shares. Based on an average trading volume of 26,346 shares, the short-interest ratio is currently 14.3 days. Approximately 9.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Beauty Health

Several large investors have recently added to or reduced their stakes in SKIN. Diversified Trust Co acquired a new position in Beauty Health during the first quarter valued at approximately $25,000. Bank of America Corp DE raised its holdings 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 buying an additional 17,088 shares during the period. Renaissance Technologies LLC raised 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 valued at $253,000 after buying an additional 64,900 shares during the period. Finally, Capricorn Fund Managers Ltd acquired a new position in Beauty Health during the 1st quarter worth approximately $17,270,000. 93.26% of the stock is currently owned by hedge funds and other institutional investors.

Beauty Health Price Performance

NASDAQ SKIN traded down $0.36 during trading hours on Monday, reaching $10.52. The company’s stock had a trading volume of 63,672 shares, compared to its average volume of 31,365. The company’s 50-day moving average is $12.64 and its two-hundred day moving average is $17.24. The stock has a market cap of $68.49 million, a PE ratio of -2.39 and a beta of 1.05. Beauty Health has a fifty-two week low of $9.89 and a fifty-two week high of $34.80. The company has a debt-to-equity ratio of 4.36, a quick ratio of 1.48 and a current ratio of 1.76.

Beauty Health (NASDAQ:SKIN) last announced its earnings results on Thursday, August 6th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.10. Beauty Health had a negative net margin of 9.79% and a negative return on equity of 47.83%. The firm had revenue of $72.11 million during the quarter, compared to the consensus estimate of $74.45 million. Analysts forecast that Beauty Health will post -3.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Zacks Research lowered shares of Beauty Health from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Citigroup reaffirmed a “hold” rating on shares of Beauty Health in a research report on Thursday, October 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Beauty Health in a report on Wednesday, October 21st. Jefferies Financial Group reiterated a “hold” rating and set a $11.00 target price (up from $0.85) on shares of Beauty Health in a research report on Monday, October 19th. Finally, TD Cowen reduced their price target on shares of Beauty Health from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Beauty Health currently has an average rating of “Hold” and a consensus price target of $18.00.

Beauty Health Company Profile

BeautyHealth is a global health and beauty company focused on providing technology, products and services for aesthetic and skincare businesses. Its flagship brand, HydraFacial, offers a non-invasive treatment platform that combines cleansing, exfoliation, extraction and hydration, with treatments delivered through proprietary devices and consumable solutions.

The company also provides professional skincare products, treatment systems and related solutions designed for use by physicians, dermatologists, aestheticians and other licensed practitioners.