Divisadero Street Capital Management LP Sells 2,297,488 Shares of The Beauty Health Company (NASDAQ:SKIN)

Divisadero Street Capital Management LP lessened its holdings in shares of The Beauty Health Company (NASDAQ:SKIN) by 47.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,577,078 shares of the company’s stock after selling 2,297,488 shares during the quarter. Divisadero Street Capital Management LP owned about 2.08% of Beauty Health worth $4,948,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. HighMark Wealth Management LLC purchased a new stake in shares of Beauty Health during the 1st quarter valued at approximately $31,000. Caprock Group LLC purchased a new stake in shares of Beauty Health during the second quarter worth $38,000. SageView Advisory Group LLC bought a new position in shares of Beauty Health in the first quarter worth $60,000. Aigen Investment Management LP grew its position in shares of Beauty Health by 88.7% in the fourth quarter. Aigen Investment Management LP now owns 31,865 shares of the company’s stock valued at $99,000 after purchasing an additional 14,974 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its stake in shares of Beauty Health by 25.3% during the 2nd quarter. 180 Wealth Advisors LLC now owns 101,855 shares of the company’s stock valued at $187,000 after purchasing an additional 20,570 shares during the period. Hedge funds and other institutional investors own 93.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SKIN. Canaccord Genuity Group cut their target price on Beauty Health from $2.00 to $1.25 and set a “hold” rating for the company in a research note on Monday, August 12th. Piper Sandler reaffirmed an “underweight” rating and set a $1.00 price objective (down previously from $1.50) on shares of Beauty Health in a research note on Friday, August 9th. Finally, Stifel Nicolaus decreased their target price on shares of Beauty Health from $4.00 to $2.00 and set a “hold” rating on the stock in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Beauty Health has an average rating of “Hold” and a consensus price target of $2.46.

Beauty Health Stock Up 1.3 %

SKIN stock opened at $1.53 on Friday. The company’s 50 day moving average is $1.64 and its 200 day moving average is $2.51. The stock has a market cap of $189.75 million, a price-to-earnings ratio of -2.18 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. The Beauty Health Company has a 1-year low of $0.91 and a 1-year high of $6.79.

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

Insider Buying and Selling at Beauty Health

In other news, Chairman Brent L. Saunders acquired 40,450 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $1.08 per share, for a total transaction of $43,686.00. Following the acquisition, the chairman now owns 5,921,769 shares of the company’s stock, valued at $6,395,510.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 41.00% 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.