Zacks Research Upgrades Beauty Health (NASDAQ:SKIN) to “Hold”

Beauty Health (NASDAQ:SKIN) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on SKIN. TD Cowen cut their price objective on shares of Beauty Health from $1.65 to $1.50 and set a “hold” rating for the company in a research report on Monday. Jefferies Financial Group restated a “hold” rating and issued a $1.60 target price on shares of Beauty Health in a research report on Wednesday, January 14th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $1.50 price target on shares of Beauty Health in a report on Friday, March 13th. Finally, Benchmark reiterated a “hold” rating on shares of Beauty Health in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Beauty Health presently has an average rating of “Hold” and a consensus price target of $2.42.

Beauty Health Price Performance

Shares of NASDAQ SKIN opened at $1.18 on Monday. The business has a fifty day moving average price of $1.25 and a two-hundred day moving average price of $1.50. The stock has a market capitalization of $150.45 million, a PE ratio of -5.90 and a beta of 1.20. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.66 and a quick ratio of 1.40. Beauty Health has a fifty-two week low of $0.78 and a fifty-two week high of $2.69.

Beauty Health (NASDAQ:SKIN) last released its earnings results on Thursday, March 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Beauty Health had a negative return on equity of 15.40% and a negative net margin of 3.16%.The company had revenue of $82.37 million for the quarter, compared to analyst estimates of $78.07 million. As a group, equities analysts predict that Beauty Health will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Woodline Partners LP boosted its holdings in shares of Beauty Health by 255.9% during the 3rd quarter. Woodline Partners LP now owns 5,930,027 shares of the company’s stock valued at $11,801,000 after acquiring an additional 4,263,997 shares in the last quarter. Millennium Management LLC grew its position in Beauty Health by 127.0% during the 4th quarter. Millennium Management LLC now owns 5,764,802 shares of the company’s stock worth $8,013,000 after acquiring an additional 3,225,668 shares during the last quarter. Mirabella Financial Services LLP increased its holdings in Beauty Health by 21.3% in the 3rd quarter. Mirabella Financial Services LLP now owns 15,596,277 shares of the company’s stock worth $31,037,000 after purchasing an additional 2,734,728 shares in the last quarter. Soleus Capital Management L.P. acquired a new position in Beauty Health in the 2nd quarter worth about $1,910,000. Finally, Geode Capital Management LLC raised its position in Beauty Health by 27.5% in the second quarter. Geode Capital Management LLC now owns 2,302,784 shares of the company’s stock valued at $4,399,000 after purchasing an additional 496,963 shares during the last quarter. 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.