Wall Street Zen Downgrades Evolus (NASDAQ:EOLS) to Sell

Key Points

• Evolus has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, signaling a bearish outlook on the stock.
• Analysts have varied opinions on Evolus, with target prices ranging from $18.00 to $27.00, resulting in a consensus price target of $21.25.
• The stock is currently trading at $5.90, significantly lower than its one-year high of $17.82, indicating substantial volatility in its price performance.

Wall Street Zen downgraded shares of Evolus (NASDAQ:EOLS - Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other brokerages have also recently commented on EOLS. HC Wainwright dropped their target price on Evolus from $27.00 to $20.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Needham & Company LLC reaffirmed a "hold" rating and set a $22.00 price target on shares of Evolus in a research note on Wednesday, August 6th. Finally, BTIG Research decreased their price target on shares of Evolus from $21.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.25.

Evolus Price Performance

Shares of EOLS stock traded up $0.62 during trading hours on Friday, hitting $6.39. The stock had a trading volume of 1,419,193 shares, compared to its average volume of 1,099,202. Evolus has a one year low of $5.71 and a one year high of $17.82. The company has a debt-to-equity ratio of 22.00, a current ratio of 2.27 and a quick ratio of 1.86. The stock's 50-day moving average price is $9.16 and its two-hundred day moving average price is $11.04. The stock has a market capitalization of $413.31 million, a price-to-earnings ratio of -6.56 and a beta of 1.12.

Insider Activity at Evolus

In other Evolus news, insider David Moatazedi sold 16,582 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $9.89, for a total value of $163,995.98. Following the completion of the sale, the insider directly owned 364,927 shares in the company, valued at $3,609,128.03. This trade represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Albert G. White III purchased 20,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was bought at an average cost of $9.45 per share, with a total value of $189,000.00. Following the acquisition, the director owned 50,378 shares of the company's stock, valued at approximately $476,072.10. The trade was a 65.84% increase in their position. The disclosure for this purchase can be found here. 6.10% of the stock is owned by company insiders.

Institutional Trading of Evolus

Hedge funds have recently added to or reduced their stakes in the company. AlphaQuest LLC acquired a new position in Evolus during the first quarter worth $39,000. State of Wyoming raised its position in Evolus by 988.1% during the first quarter. State of Wyoming now owns 3,754 shares of the company's stock worth $45,000 after acquiring an additional 3,409 shares during the period. Profund Advisors LLC acquired a new position in Evolus during the second quarter worth $100,000. Versor Investments LP acquired a new position in Evolus during the second quarter worth $102,000. Finally, IFP Advisors Inc raised its position in Evolus by 99.0% during the first quarter. IFP Advisors Inc now owns 9,427 shares of the company's stock worth $113,000 after acquiring an additional 4,691 shares during the period. 90.69% of the stock is owned by hedge funds and other institutional investors.

Evolus Company Profile

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.