Beauty Health (NASDAQ:SKIN) Shares Down 3.5% - Here's Why

The Beauty Health Company (NASDAQ:SKIN - Get Free Report) was down 3.5% during trading on Monday . The company traded as low as $2.19 and last traded at $2.20. Approximately 869,179 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 970,992 shares. The stock had previously closed at $2.28.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reduced their price target on Beauty Health from $1.50 to $1.25 and set a "hold" rating on the stock in a research report on Monday, May 5th.

Beauty Health Stock Performance

The company has a debt-to-equity ratio of 12.01, a quick ratio of 6.43 and a current ratio of 7.47. The stock's 50 day moving average price is $1.70 and its 200 day moving average price is $1.51. The company has a market capitalization of $240.64 million, a P/E ratio of -4.66 and a beta of 1.22.

Beauty Health (NASDAQ:SKIN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.05. Beauty Health had a negative net margin of 11.94% and a negative return on equity of 67.91%. The business had revenue of $69.60 million for the quarter, compared to analysts' expectations of $63.88 million. As a group, equities analysts expect that The Beauty Health Company will post -0.25 EPS for the current year.

Institutional Investors Weigh In On Beauty Health

Several institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its position in shares of Beauty Health by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 665,706 shares of the company's stock valued at $892,000 after purchasing an additional 31,880 shares in the last quarter. SCS Capital Management LLC bought a new stake in shares of Beauty Health during the 1st quarter valued at about $67,000. AQR Capital Management LLC bought a new stake in shares of Beauty Health during the 1st quarter valued at about $40,000. Nuveen LLC bought a new stake in Beauty Health in the first quarter valued at $59,000. Finally, Prescott Group Capital Management L.L.C. increased its stake in Beauty Health by 47.0% in the first quarter. Prescott Group Capital Management L.L.C. now owns 646,798 shares of the company's stock valued at $867,000 after purchasing an additional 206,798 shares in the last quarter. Institutional investors own 93.26% of the company's stock.

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.