Beauty Health (NASDAQ:SKIN) Trading Up 3.1% – Time to Buy?

The Beauty Health Company (NASDAQ:SKIN)’s share price rose 3.1% during mid-day trading on Thursday . The stock traded as high as $1.68 and last traded at $1.67. Approximately 250,190 shares were traded during trading, a decline of 51% from the average daily volume of 506,165 shares. The stock had previously closed at $1.62.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group boosted their price target on Beauty Health from $1.25 to $1.75 and gave the company a “hold” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Beauty Health has a consensus rating of “Hold” and an average target price of $2.55.

Beauty Health Price Performance

The company’s 50-day simple moving average is $1.61 and its 200 day simple moving average is $1.58. The stock has a market capitalization of $207.28 million, a price-to-earnings ratio of -3.98 and a beta of 0.82. The company has a quick ratio of 5.57, a current ratio of 6.56 and a debt-to-equity ratio of 9.23.

Institutional Investors Weigh In On Beauty Health

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in shares of Beauty Health by 38.2% in the fourth quarter. SG Americas Securities LLC now owns 35,290 shares of the company’s stock worth $56,000 after buying an additional 9,749 shares during the last quarter. Barclays PLC lifted its position in Beauty Health by 11.1% during the 4th quarter. Barclays PLC now owns 117,920 shares of the company’s stock worth $187,000 after acquiring an additional 11,817 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Beauty Health by 49.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 36,695 shares of the company’s stock worth $52,000 after acquiring an additional 12,103 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Beauty Health during the fourth quarter valued at about $25,000. Finally, Atom Investors LP grew its position in shares of Beauty Health by 19.7% in the third quarter. Atom Investors LP now owns 99,924 shares of the company’s stock valued at $144,000 after purchasing an additional 16,416 shares during the last quarter. Institutional investors own 93.26% of the company’s stock.

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.