The Beauty Health Company (NASDAQ:SKIN) Position Cut by State Street Corp

State Street Corp lowered its position in shares of The Beauty Health Company (NASDAQ:SKIN) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,646,440 shares of the company’s stock after selling 22,032 shares during the period. State Street Corp owned 1.33% of Beauty Health worth $2,371,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SKIN. SG Americas Securities LLC bought a new position in Beauty Health in the 3rd quarter worth about $37,000. Caprock Group LLC bought a new position in Beauty Health in the 2nd quarter worth approximately $38,000. Sanctuary Advisors LLC acquired a new stake in Beauty Health in the 2nd quarter valued at approximately $47,000. Susquehanna Fundamental Investments LLC acquired a new position in Beauty Health during the 2nd quarter worth $105,000. Finally, HighTower Advisors LLC bought a new position in shares of Beauty Health in the third quarter worth $121,000. Institutional investors and hedge funds own 93.26% of the company’s stock.

Beauty Health Stock Down 0.6 %

SKIN stock opened at $1.59 on Wednesday. The company has a debt-to-equity ratio of 9.23, a current ratio of 6.56 and a quick ratio of 5.57. The firm has a market cap of $197.35 million, a PE ratio of -3.79 and a beta of 0.85. The Beauty Health Company has a 12 month low of $0.91 and a 12 month high of $5.17. The firm has a 50 day simple moving average of $1.57 and a 200 day simple moving average of $1.63.

Wall Street Analysts Forecast Growth

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

Beauty Health 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.