Canaccord Genuity Group Cuts Beauty Health (NASDAQ:SKIN) Price Target to $1.50

Beauty Health (NASDAQ:SKIN) had its target price reduced by Canaccord Genuity Group from $1.75 to $1.50 in a research report sent to investors on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Beauty Health Stock Performance

NASDAQ:SKIN opened at $1.32 on Thursday. The firm’s 50-day moving average is $1.57 and its 200-day moving average is $1.57. Beauty Health has a 52-week low of $0.91 and a 52-week high of $4.62. The company has a debt-to-equity ratio of 9.23, a quick ratio of 5.57 and a current ratio of 6.56. The company has a market cap of $163.84 million, a price-to-earnings ratio of -3.14 and a beta of 0.84.

Beauty Health (NASDAQ:SKIN) last posted its quarterly earnings data on Wednesday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. Beauty Health had a negative net margin of 8.11% and a negative return on equity of 44.83%. The company had revenue of $83.50 million for the quarter, compared to the consensus estimate of $78.02 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. Equities research analysts anticipate that Beauty Health will post -0.25 earnings per share for the current year.

Institutional Trading of Beauty Health

Institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of Beauty Health during the 4th quarter valued at about $25,000. ProShare Advisors LLC boosted its position in shares of Beauty Health by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 20,959 shares of the company’s stock valued at $33,000 after acquiring an additional 6,896 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Beauty Health by 49.2% in the third quarter. Sanctuary Advisors LLC now owns 36,695 shares of the company’s stock valued at $52,000 after buying an additional 12,103 shares in the last quarter. SG Americas Securities LLC boosted its position in Beauty Health by 38.2% in the fourth quarter. SG Americas Securities LLC now owns 35,290 shares of the company’s stock valued at $56,000 after buying an additional 9,749 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Beauty Health in the fourth quarter valued at about $57,000. 93.26% of the stock is currently owned by institutional investors and hedge funds.

About Beauty Health

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.