DA Davidson Reaffirms Buy Rating for Beauty Health (NASDAQ:SKIN)

DA Davidson reaffirmed their buy rating on shares of Beauty Health (NASDAQ:SKIN) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $5.00 target price on the stock.

Separately, Canaccord Genuity Group increased their price target on shares of Beauty Health from $2.50 to $3.00 and gave the company a hold rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $6.50.

Beauty Health Price Performance

Shares of Beauty Health stock remained flat at $3.61 during trading on Friday. 2,732,594 shares of the company were exchanged, compared to its average volume of 2,970,931. The company has a quick ratio of 5.27, a current ratio of 6.07 and a debt-to-equity ratio of 12.43. Beauty Health has a 52 week low of $1.35 and a 52 week high of $13.90. The company has a fifty day moving average price of $3.08 and a 200 day moving average price of $3.83. The company has a market cap of $473.87 million, a price-to-earnings ratio of -4.69 and a beta of 0.94.

Beauty Health (NASDAQ:SKIN) last posted its earnings results on Tuesday, March 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. Beauty Health had a negative net margin of 25.65% and a negative return on equity of 18.85%. The firm had revenue of $96.80 million during the quarter, compared to analyst estimates of $87.22 million. During the same quarter in the prior year, the business posted $0.03 EPS. The business’s revenue was down 1.3% compared to the same quarter last year. Equities research analysts expect that Beauty Health will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dark Forest Capital Management LP grew its holdings in shares of Beauty Health by 583.0% in the third quarter. Dark Forest Capital Management LP now owns 377,114 shares of the company’s stock worth $2,270,000 after purchasing an additional 321,898 shares during the last quarter. Olympiad Research LP bought a new position in shares of Beauty Health in the third quarter worth approximately $287,000. Graham Capital Management L.P. bought a new position in shares of Beauty Health in the third quarter worth approximately $1,057,000. Braidwell LP bought a new position in shares of Beauty Health in the third quarter worth approximately $9,790,000. Finally, Aigen Investment Management LP bought a new position in shares of Beauty Health in the third quarter worth approximately $102,000.

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 HydraFacial Delivery System designed to elevate every part of the treatment and connects providers to the consumer's preferences to create a more personalized experience; HydraFacial Nation App, an app that allows consumers to learn about their skin health, discover treatment options, and track their treatments over time; and Keravive, a treatment for scalp health.