Evolus (NASDAQ:EOLS) Shares Gap Down on Disappointing Earnings

Shares of Evolus, Inc. (NASDAQ:EOLS) gapped down before the market opened on Thursday following a dissappointing earnings announcement. 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 changing hands.

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

Analyst Ratings Changes

A number of research firms have issued reports on EOLS. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Evolus in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Evolus in a report on Friday, September 13th. Barclays upped their price target on shares of Evolus from $16.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Evolus in a research note on Monday, September 16th.

Insider Transactions at Evolus

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

Hedge Funds Weigh In On Evolus

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in shares of Evolus by 1.6% during the 1st quarter. California State Teachers Retirement System now owns 48,109 shares of the company’s stock valued at $674,000 after acquiring an additional 739 shares during the last quarter. ProShare Advisors LLC raised its position in Evolus by 9.9% in the first quarter. ProShare Advisors LLC now owns 11,542 shares of the company’s stock valued at $162,000 after purchasing an additional 1,035 shares during the period. Essex Investment Management Co. LLC lifted its stake in Evolus by 0.4% during the third quarter. Essex Investment Management Co. LLC now owns 295,553 shares of the company’s stock worth $4,788,000 after purchasing an additional 1,111 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Evolus by 9.4% during the second quarter. Arizona State Retirement System now owns 14,603 shares of the company’s stock worth $158,000 after buying an additional 1,253 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Evolus by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,882 shares of the company’s stock valued at $559,000 after acquiring an additional 1,637 shares in the last quarter. Institutional investors and hedge funds own 90.69% of the company’s stock.

Evolus Trading Down 9.5 %

The company has a debt-to-equity ratio of 6.26, a current ratio of 2.92 and a quick ratio of 2.67. The firm has a market cap of $959.60 million, a PE ratio of -16.78 and a beta of 1.31. The company’s 50 day moving average price is $16.29 and its 200 day moving average price is $13.83.

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.