Beauty Health Shares to Reverse Split on Wednesday, October 14th (NASDAQ:SKIN)

Key Points

• Beauty Health will execute a 1-for-20 reverse stock split before the market opens on Wednesday, October 14, with shareholder holdings adjusted after the close on October 13.
• Shares opened at $0.55, near their 12-month low of $0.50, while the company reported a quarterly loss of $0.02 per share and revenue of $72.11 million, below the $74.45 million consensus estimate.
• Analyst sentiment is primarily neutral: five analysts rate the stock Hold, one rates it Buy and one Sell. The consensus target price is $1.38, while institutional investors own 93.26% of the company.

Shares of The Beauty Health Company (NASDAQ:SKIN - Free Report) are going to reverse split before the market opens on Wednesday, October 14th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, October 13th.

Beauty Health Stock Performance

SKIN opened at $0.55 on Friday. The firm has a market capitalization of $71.58 million, a P/E ratio of -2.50 and a beta of 1.05. The stock's 50 day moving average price is $0.66 and its two-hundred day moving average price is $0.74. The company has a quick ratio of 1.48, a current ratio of 1.76 and a debt-to-equity ratio of 4.36. Beauty Health has a 12-month low of $0.50 and a 12-month high of $1.74.

Beauty Health (NASDAQ:SKIN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). Beauty Health had a negative return on equity of 47.83% and a negative net margin of 9.79%. The company had revenue of $72.11 million for the quarter, compared to the consensus estimate of $74.45 million. On average, equities analysts forecast that Beauty Health will post -0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TD Cowen cut their target price on shares of Beauty Health from $1.00 to $0.90 and set a "hold" rating for the company in a research note on Wednesday, August 12th. Weiss Ratings lowered shares of Beauty Health from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, July 23rd. Finally, Zacks Research downgraded shares of Beauty Health from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Beauty Health presently has a consensus rating of "Hold" and a consensus target price of $1.38.

Institutional Investors Weigh In On Beauty Health

A number of hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in Beauty Health by 19.2% during the 1st quarter. Bank of America Corp DE now owns 106,242 shares of the company's stock valued at $95,000 after purchasing an additional 17,088 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Beauty Health by 29.6% in the first quarter. Renaissance Technologies LLC now owns 283,791 shares of the company's stock worth $253,000 after purchasing an additional 64,900 shares in the last quarter. Capricorn Fund Managers Ltd acquired a new position in Beauty Health in the first quarter worth $17,270,000. Finally, Diversified Trust Co bought a new stake in shares of Beauty Health during the first quarter worth $25,000. Institutional investors and hedge funds own 93.26% of the company's stock.

About Beauty Health

BeautyHealth is a global health and beauty company focused on creating technology-enabled products and experiences for skin health. Its primary brand is Hydrafacial, which offers non-invasive skin treatments that combine cleansing, exfoliation, extraction and hydration with professional-grade devices, serums and treatment boosters.

The company also provides products and systems designed for complementary aesthetic and wellness applications, including Syndeo, a connected Hydrafacial delivery system; Keravive, a scalp-health treatment; and SkinStylus, a microneedling platform.

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