Evolus (NASDAQ:EOLS) Shares Gap Down Following Weak Earnings

Evolus, Inc. (NASDAQ:EOLS)’s share price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $16.81, but opened at $15.26. Evolus shares last traded at $15.27, with a volume of 256,256 shares traded.

The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The business had revenue of $61.09 million during the quarter, compared to the consensus estimate of $62.81 million.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EOLS shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Evolus in a report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Evolus in a report on Friday, September 13th. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of Evolus in a report on Thursday. Finally, Barclays increased their price target on Evolus from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, September 13th.

Insider Activity

In other news, CMO Tomoko Yamagishi-Dressler sold 5,631 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $15.85, for a total transaction of $89,251.35. Following the transaction, the chief marketing officer now owns 82,375 shares in the company, valued at approximately $1,305,643.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Sandra Beaver sold 3,276 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $14.98, for a total value of $49,074.48. Following the completion of the transaction, the chief financial officer now directly owns 148,502 shares of the company’s stock, valued at $2,224,559.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Tomoko Yamagishi-Dressler sold 5,631 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $15.85, for a total transaction of $89,251.35. Following the sale, the chief marketing officer now directly owns 82,375 shares in the company, valued at $1,305,643.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Evolus

Large investors have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in shares of Evolus during the 2nd quarter valued at $43,000. Quarry LP bought a new position in shares of Evolus during the second quarter valued at about $54,000. Profund Advisors LLC purchased a new position in shares of Evolus in the second quarter worth about $130,000. Arizona State Retirement System lifted its stake in shares of Evolus by 9.4% in the 2nd quarter. Arizona State Retirement System now owns 14,603 shares of the company’s stock valued at $158,000 after acquiring an additional 1,253 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Evolus by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 11,542 shares of the company’s stock valued at $162,000 after acquiring an additional 1,035 shares during the period. Hedge funds and other institutional investors own 90.69% of the company’s stock.

Evolus Price Performance

The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 6.26. The firm has a fifty day moving average of $16.26 and a two-hundred day moving average of $13.83. The company has a market capitalization of $901.56 million, a PE ratio of -15.70 and a beta of 1.31.

About Evolus

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.