Zacks Research Downgrades Beauty Health (NASDAQ:SKIN) to Hold

Beauty Health (NASDAQ:SKIN) was downgraded by stock 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 recently issued reports on SKIN. Canaccord Genuity Group decreased their target price on Beauty Health from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Friday, May 1st. Roth Capital reaffirmed a “buy” rating and set a $2.00 target price (down from $2.50) on shares of Beauty Health in a report on Wednesday, May 20th. Finally, Weiss Ratings upgraded Beauty Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. One research 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.02.

Beauty Health Stock Down 3.4%

SKIN stock opened at $0.76 on Monday. Beauty Health has a 12 month low of $0.55 and a 12 month high of $2.69. The firm has a market cap of $98.70 million, a PE ratio of -4.48 and a beta of 1.08. The firm has a 50 day simple moving average of $0.73 and a 200 day simple moving average of $0.98. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.79 and a quick ratio of 1.48.

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

Institutional Trading of Beauty Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. lifted its holdings in Beauty Health by 6.6% in the 2nd quarter. Invesco Ltd. now owns 98,427 shares of the company’s stock worth $188,000 after purchasing an additional 6,059 shares during the last quarter. Rhumbline Advisers grew its holdings in Beauty Health by 5.7% during the third quarter. Rhumbline Advisers now owns 150,124 shares of the company’s stock valued at $299,000 after purchasing an additional 8,142 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Beauty Health by 33.5% in the second quarter. The Manufacturers Life Insurance Company now owns 41,488 shares of the company’s stock valued at $79,000 after purchasing an additional 10,410 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Beauty Health in the third quarter valued at approximately $26,000. Finally, SG Americas Securities LLC lifted its stake in shares of Beauty Health by 111.9% in the fourth quarter. SG Americas Securities LLC now owns 24,670 shares of the company’s stock worth $34,000 after buying an additional 13,026 shares during the last quarter. 93.26% of the stock is currently owned by hedge funds and other institutional investors.

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.