Beauty Health (NASDAQ:SKIN) Upgraded to "Buy" at Wall Street Zen

Key Points

• Beauty Health (NASDAQ:SKIN) has been upgraded to a "buy" rating by Wall Street Zen, signaling increased confidence from analysts.
• The company reported strong quarterly earnings, achieving $0.03 earnings per share, surpassing expectations and generating revenue of $78.20 million.
• Institutional investors hold a significant stake in Beauty Health, owning approximately 93.26% of the company's shares, indicating robust institutional interest.

Beauty Health (NASDAQ:SKIN - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other research analysts also recently commented on the stock. Canaccord Genuity Group decreased their price target on shares of Beauty Health from $1.50 to $1.25 and set a "hold" rating on the stock in a research note on Monday, May 5th. Stifel Nicolaus upped their price objective on shares of Beauty Health from $3.00 to $4.00 and gave the stock a "hold" rating in a report on Friday, August 1st.

Beauty Health Price Performance

SKIN traded up $0.32 on Friday, reaching $2.21. The company had a trading volume of 3,570,801 shares, compared to its average volume of 842,752. The business has a 50 day simple moving average of $1.77 and a 200 day simple moving average of $1.51. The company has a market cap of $278.45 million, a price-to-earnings ratio of -7.89 and a beta of 1.20. The company has a debt-to-equity ratio of 12.01, a quick ratio of 6.43 and a current ratio of 7.47. Beauty Health has a 52-week low of $0.78 and a 52-week high of $2.38.

Beauty Health (NASDAQ:SKIN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.09. The business had revenue of $78.20 million for the quarter, compared to the consensus estimate of $74.67 million. Beauty Health had a negative net margin of 6.13% and a negative return on equity of 36.17%. As a group, sell-side analysts anticipate that Beauty Health will post -0.25 EPS for the current year.

Hedge Funds Weigh In On Beauty Health

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of Beauty Health in the 4th quarter worth about $25,000. ProShare Advisors LLC raised its position in Beauty Health by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 20,959 shares of the company's stock worth $33,000 after buying an additional 6,896 shares during the last quarter. AQR Capital Management LLC purchased a new position in Beauty Health in the 1st quarter worth about $40,000. Simplicity Wealth LLC purchased a new position in Beauty Health in the 2nd quarter worth about $49,000. Finally, Nuveen LLC purchased a new position in Beauty Health in the 1st quarter worth about $59,000. Hedge funds and other 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.