The Beauty Health Company (NASDAQ:SKIN) Short Interest Update

The Beauty Health Company (NASDAQ:SKIN) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 10,290,000 shares, a growth of 21.9% from the August 15th total of 8,440,000 shares. Based on an average daily trading volume, of 1,820,000 shares, the short-interest ratio is presently 5.7 days. Approximately 13.3% of the company’s shares are short sold.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SKIN shares. Piper Sandler reissued an “underweight” rating and issued a $1.00 price objective (down previously from $1.50) on shares of Beauty Health in a research report on Friday, August 9th. Stifel Nicolaus lowered their price target on Beauty Health from $4.00 to $2.00 and set a “hold” rating for the company in a report on Friday, July 26th. Finally, Canaccord Genuity Group reduced their price objective on Beauty Health from $2.00 to $1.25 and set a “hold” rating on the stock in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.46.

Beauty Health Stock Up 2.7 %

Shares of NASDAQ:SKIN traded up $0.04 during trading on Friday, hitting $1.50. The company’s stock had a trading volume of 846,492 shares, compared to its average volume of 1,222,020. The company has a market capitalization of $186.03 million, a PE ratio of -2.14 and a beta of 0.95. Beauty Health has a fifty-two week low of $0.91 and a fifty-two week high of $6.87. The company has a debt-to-equity ratio of 7.96, a quick ratio of 5.47 and a current ratio of 6.49. The stock’s 50-day moving average price is $1.66 and its two-hundred day moving average price is $2.55.

Beauty Health (NASDAQ:SKIN) last announced its earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $90.60 million during the quarter, compared to analyst estimates of $98.46 million. Beauty Health had a negative net margin of 22.86% and a negative return on equity of 4.57%. As a group, sell-side analysts expect that Beauty Health will post -0.2 EPS for the current year.

Insider Activity

In other news, Chairman Brent L. Saunders purchased 40,450 shares of the company’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $1.08 per share, for a total transaction of $43,686.00. Following the completion of the purchase, the chairman now directly owns 5,921,769 shares of the company’s stock, valued at approximately $6,395,510.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 41.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Beauty Health in the 1st quarter worth approximately $4,297,000. Federated Hermes Inc. boosted its holdings in Beauty Health by 349,616.0% in the second quarter. Federated Hermes Inc. now owns 370,699 shares of the company’s stock worth $712,000 after purchasing an additional 370,593 shares during the period. Bank of New York Mellon Corp increased its stake in Beauty Health by 24.9% during the second quarter. Bank of New York Mellon Corp now owns 348,108 shares of the company’s stock valued at $668,000 after purchasing an additional 69,329 shares during the last quarter. Sierra Summit Advisors LLC acquired a new stake in shares of Beauty Health during the fourth quarter worth $856,000. Finally, Bayesian Capital Management LP bought a new position in shares of Beauty Health in the 1st quarter worth about $521,000. 93.26% of the stock is currently owned by institutional investors.

Beauty Health Company Profile

The Beauty Health Company designs, develops, manufactures, markets, and sells aesthetic technologies and products worldwide. The company's flagship product includes HydraFacial that enhance the skin to cleanse, extract, and hydrate the skin with proprietary solutions and serums. Its products also comprise Syndeo, a Delivery System designs to connects providers to the consumer's preferences to create a more personalized experience; consumables, such as single-use tips, solutions, and serums used to provide a hydrafacial treatment; SkinStylus SteriLock Microsystem, a microneedling device used for the treatment of enhancing appearance of surgical or traumatic hypertrophic scars on the abdomen and facial acne scarring in Fitzpatrick skin types I, II, and III; and Keravive, a treatment for scalp health.