Beauty Health (NASDAQ:SKIN) Trading Down 8.4%

Shares of The Beauty Health Company (NASDAQ:SKIN) fell 8.4% during mid-day trading on Thursday . The stock traded as low as $16.92 and last traded at $16.98. 70,947 shares were traded during trading, a decline of 96% from the average session volume of 1,715,431 shares. The stock had previously closed at $18.53.

SKIN has been the topic of several research reports. Cowen initiated coverage on Beauty Health in a research report on Monday, October 4th. They issued an “outperform” rating and a $32.00 target price on the stock. DA Davidson raised their price objective on Beauty Health from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 10th. William Blair initiated coverage on Beauty Health in a research report on Friday, January 7th. They issued an “outperform” rating on the stock. Raymond James started coverage on Beauty Health in a research report on Thursday, December 23rd. They issued a “market perform” rating on the stock. Finally, Zacks Investment Research raised Beauty Health from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Thursday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Beauty Health currently has an average rating of “Buy” and a consensus price target of $28.22.

The stock has a fifty day moving average price of $24.01 and a two-hundred day moving average price of $23.53.

Beauty Health (NASDAQ:SKIN) last posted its quarterly earnings results on Monday, November 8th. The company reported ($1.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($1.60). The business had revenue of $68.15 million during the quarter, compared to the consensus estimate of $59.57 million. On average, sell-side analysts predict that The Beauty Health Company will post -0.06 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sigma Planning Corp purchased a new position in shares of Beauty Health during the 3rd quarter valued at $434,000. BlackRock Inc. bought a new stake in Beauty Health in the second quarter worth $58,045,000. Bank of New York Mellon Corp bought a new stake in Beauty Health in the second quarter worth $3,526,000. Alyeska Investment Group L.P. acquired a new position in Beauty Health during the 2nd quarter worth $41,814,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Beauty Health during the 2nd quarter worth $1,182,000. Hedge funds and other institutional investors own 62.08% of the company’s stock.

About Beauty Health (NASDAQ:SKIN)

Edge Systems, LLC designs, develops, manufactures, markets, and sells aesthetic technologies and products. It offers hydradermabrasion system that enhances the skin to cleanse, exfoliate, extract, and hydrate simultaneously; Hydraglucan Intense Hydration Booster, a customization for the HydraFacial treatment exfoliates the skin by improving cell renewal and delivers ingredients, including hyaluronic acid, glucan, and betaine to hydrate the skin and provide anti-aging benefits; HydraFacial Daily Essentials, which provides detoxification, rejuvenation, and protection of skin; crystal microdermabrasion systems; and light emitting diode systems.

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