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

Zacks Research cut shares of Beauty Health (NASDAQ:SKIN) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

SKIN has been the subject of a number of other research reports. Weiss Ratings upgraded shares of Beauty Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. Roth Capital reiterated a “buy” rating and set a $2.00 target price (down from $2.50) on shares of Beauty Health in a research report on Wednesday, May 20th. Finally, Canaccord Genuity Group lowered 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 note on Friday, May 1st. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.02.

Beauty Health Price Performance

Shares of NASDAQ:SKIN opened at $0.76 on Monday. Beauty Health has a 1-year low of $0.55 and a 1-year high of $2.69. 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 moving average is $0.73 and its 200-day moving average is $0.98. 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 issued 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. The business had revenue of $64.91 million during the quarter, compared to analyst estimates of $66.28 million. Beauty Health had a negative return on equity of 9.38% and a negative net margin of 2.03%. Sell-side analysts predict that Beauty Health will post -0.16 earnings per share for the current year.

Institutional Investors Weigh In On Beauty Health

Institutional investors and hedge funds have recently made changes to their positions in the company. Capricorn Fund Managers Ltd acquired a new stake in shares of Beauty Health during the 1st quarter worth about $17,270,000. MTM Investment Management LLC boosted its position in Beauty Health by 114.0% in the fourth quarter. MTM Investment Management LLC now owns 26,218 shares of the company’s stock valued at $36,000 after buying an additional 13,968 shares in the last quarter. CWM LLC boosted its position in Beauty Health by 232.8% in the fourth quarter. CWM LLC now owns 22,018 shares of the company’s stock valued at $31,000 after buying an additional 15,402 shares in the last quarter. SG Americas Securities LLC boosted its position in Beauty Health by 111.9% in the fourth quarter. SG Americas Securities LLC now owns 24,670 shares of the company’s stock valued at $34,000 after buying an additional 13,026 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Beauty Health by 6.6% during the second quarter. Invesco Ltd. now owns 98,427 shares of the company’s stock worth $188,000 after buying an additional 6,059 shares during the last quarter. Institutional investors and hedge funds 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.