Beauty Health (NASDAQ:SKIN) Downgraded to “Hold” Rating by Zacks Research

Beauty Health (NASDAQ:SKIN) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also commented on SKIN. Weiss Ratings upgraded Beauty Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Roth Capital restated a “buy” rating and issued a $2.00 price objective (down from $2.50) on shares of Beauty Health in a research note on Wednesday, May 20th. Finally, Canaccord Genuity Group dropped their target price on shares of Beauty Health from $1.50 to $1.00 and set a “hold” rating on the stock in a research report on Friday, May 1st. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.02.

Beauty Health Trading Down 3.4%

Beauty Health stock opened at $0.76 on Monday. Beauty Health has a 52 week low of $0.55 and a 52 week high of $2.69. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.48 and a current ratio of 1.79. The firm has a market capitalization of $98.70 million, a PE ratio of -4.48 and a beta of 1.08. The business’s 50-day simple moving average is $0.73 and its 200-day simple moving average is $0.98.

Beauty Health (NASDAQ:SKIN) last announced its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.04. The firm had revenue of $64.91 million during the quarter, compared to the consensus estimate of $66.28 million. Beauty Health had a negative return on equity of 9.38% and a negative net margin of 2.03%. Equities research analysts forecast that Beauty Health will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in Beauty Health by 19.2% during the first quarter. Bank of America Corp DE now owns 106,242 shares of the company’s stock worth $95,000 after purchasing an additional 17,088 shares during the period. Renaissance Technologies LLC grew its stake in shares of Beauty Health by 29.6% in the 1st quarter. Renaissance Technologies LLC now owns 283,791 shares of the company’s stock valued at $253,000 after purchasing an additional 64,900 shares during the period. Capricorn Fund Managers Ltd acquired a new position in shares of Beauty Health in the 1st quarter worth approximately $17,270,000. Diversified Trust Co bought a new position in shares of Beauty Health during the 1st quarter worth approximately $25,000. Finally, Invesco Ltd. lifted its position in shares of Beauty Health by 65.4% during the 4th quarter. Invesco Ltd. now owns 69,422 shares of the company’s stock worth $96,000 after buying an additional 27,453 shares during the period. Institutional investors and hedge funds own 93.26% of the company’s stock.

Beauty Health Company Profile

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.