Millennium Management LLC Has $4.96 Million Stock Position in The Beauty Health Company (NASDAQ:SKIN)

Millennium Management LLC increased its position in shares of The Beauty Health Company (NASDAQ:SKIN - Free Report) by 30.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,118,970 shares of the company's stock after purchasing an additional 730,647 shares during the quarter. Millennium Management LLC owned 2.51% of Beauty Health worth $4,959,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SKIN. Raymond James Financial Inc. bought a new position in shares of Beauty Health in the 4th quarter worth about $25,000. SG Americas Securities LLC raised its stake in Beauty Health by 38.2% during the fourth quarter. SG Americas Securities LLC now owns 35,290 shares of the company's stock worth $56,000 after acquiring an additional 9,749 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in Beauty Health during the fourth quarter worth about $57,000. Renaissance Technologies LLC bought a new position in Beauty Health in the fourth quarter worth about $64,000. Finally, Newman Dignan & Sheerar Inc. boosted its stake in Beauty Health by 39.1% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 71,144 shares of the company's stock valued at $113,000 after acquiring an additional 20,000 shares during the period. Institutional investors and hedge funds own 93.26% of the company's stock.

Beauty Health Stock Performance

NASDAQ SKIN traded up $0.04 on Friday, hitting $1.65. The stock had a trading volume of 1,191,931 shares, compared to its average volume of 1,043,063. The company's 50-day moving average is $1.27 and its two-hundred day moving average is $1.44. The Beauty Health Company has a one year low of $0.78 and a one year high of $2.26. The stock has a market cap of $207.26 million, a price-to-earnings ratio of -3.92 and a beta of 0.88. The company has a quick ratio of 5.57, a current ratio of 6.56 and a debt-to-equity ratio of 9.23.

Beauty Health (NASDAQ:SKIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.05. Beauty Health had a negative return on equity of 44.83% and a negative net margin of 8.11%. The company had revenue of $69.60 million during the quarter, compared to analyst estimates of $63.88 million. On average, analysts expect that The Beauty Health Company will post -0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group dropped 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 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.