The Beauty Health Company (NASDAQ:SKIN) Short Interest Up 21.9% in August

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

Insider Activity at Beauty Health

In related news, Chairman Brent L. Saunders bought 40,450 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $1.08 per share, for a total transaction of $43,686.00. Following the completion of the purchase, the chairman now directly owns 5,921,769 shares in the company, valued at approximately $6,395,510.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 41.00% of the company’s stock.

Hedge Funds Weigh In On Beauty Health

Large investors have recently made changes to their positions in the business. HighMark Wealth Management LLC acquired a new stake in Beauty Health during the first quarter valued at approximately $31,000. Caprock Group LLC acquired a new stake in shares of Beauty Health during the 2nd quarter valued at $38,000. Sanctuary Advisors LLC bought a new stake in shares of Beauty Health during the 2nd quarter worth $47,000. SageView Advisory Group LLC acquired a new position in shares of Beauty Health in the 1st quarter worth $60,000. Finally, Aigen Investment Management LP grew its holdings in shares of Beauty Health by 88.7% in the 4th quarter. Aigen Investment Management LP now owns 31,865 shares of the company’s stock worth $99,000 after acquiring an additional 14,974 shares during the last quarter. Institutional investors own 93.26% of the company’s stock.

Beauty Health Price Performance

NASDAQ:SKIN traded up $0.06 during midday trading on Tuesday, hitting $1.55. 66,870 shares of the stock were exchanged, compared to its average volume of 2,085,193. The company has a market capitalization of $191.63 million, a price-to-earnings ratio of -2.13 and a beta of 0.95. The company has a current ratio of 6.49, a quick ratio of 5.47 and a debt-to-equity ratio of 7.96. Beauty Health has a one year low of $0.91 and a one year high of $6.79. The business has a 50-day moving average price of $1.65 and a two-hundred day moving average price of $2.53.

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

Wall Street Analysts Forecast Growth

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

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.