The Beauty Health Company (NASDAQ:SKIN) Sees Large Growth in Short Interest

The Beauty Health Company (NASDAQ:SKIN) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 10,290,000 shares, a growth of 21.9% from the August 15th total of 8,440,000 shares. Based on an average trading volume of 1,820,000 shares, the days-to-cover ratio is presently 5.7 days. Approximately 13.3% of the company’s shares are sold short.

Beauty Health Stock Up 4.0 %

Shares of SKIN traded up $0.06 during mid-day trading on Tuesday, hitting $1.55. 66,870 shares of the company’s stock were exchanged, compared to its average volume of 2,085,193. The stock has a market cap of $191.63 million, a price-to-earnings ratio of -2.13 and a beta of 0.95. The firm has a fifty day moving average of $1.65 and a two-hundred day moving average of $2.53. The company has a quick ratio of 5.47, a current ratio of 6.49 and a debt-to-equity ratio of 7.96. Beauty Health has a twelve month low of $0.91 and a twelve month high of $6.79.

Beauty Health (NASDAQ:SKIN) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $90.60 million during the quarter, compared to analyst estimates of $98.46 million. Beauty Health had a negative net margin of 22.86% and a negative return on equity of 4.57%. On average, sell-side analysts forecast that Beauty Health will post -0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SKIN shares. Canaccord Genuity Group dropped their target price on Beauty Health from $2.00 to $1.25 and set a “hold” rating on the stock in a report on Monday, August 12th. Stifel Nicolaus dropped their price objective on shares of Beauty Health from $4.00 to $2.00 and set a “hold” rating on the stock in a research note on Friday, July 26th. Finally, Piper Sandler reiterated an “underweight” rating and issued a $1.00 target price (down previously from $1.50) on shares of Beauty Health in a research report on Friday, August 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Beauty Health presently has a consensus rating of “Hold” and an average price target of $2.46.

Insider Activity

In other news, Chairman Brent L. Saunders acquired 40,450 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $1.08 per share, for a total transaction of $43,686.00. Following the transaction, the chairman now owns 5,921,769 shares in the company, valued at approximately $6,395,510.52. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 41.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sierra Summit Advisors LLC bought a new stake in Beauty Health during the fourth quarter worth approximately $856,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Beauty Health during the 1st quarter worth $200,000. Russell Investments Group Ltd. acquired a new position in Beauty Health in the 1st quarter valued at $279,000. Caprock Group LLC bought a new position in Beauty Health in the 2nd quarter worth $38,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Beauty Health during the 1st quarter worth $4,297,000. Institutional investors and hedge funds own 93.26% of the company’s stock.

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.