5 Best Meme Stocks to Invest In

3. The Beauty Health Company (NASDAQ: SKIN

Number of Hedge Fund Holders: 33

Percentage gain in the past month: 39.52%

The Beauty Health Company (NASDAQ: SKIN) is an aesthetic technology manufacturer based in California that ranks 3rd on the list of 12 best meme stocks to invest in. The Beauty Health Company (NASDAQ: SKIN) sells non-invasive skin-enhancing and detoxification systems globally. 

On September 1, Piper Sandler analyst Erinn Murphy maintained an Overweight rating on The Beauty Health Company (NASDAQ: SKIN) and increased his price target to $33 per share from the previous $27. 

The company has a market cap of $3.71 billion. In the second quarter of 2021, The Beauty Health Company (NASDAQ: SKIN) reported an EPS of $0.09, beating estimates by $0.07. The company’s second-quarter revenue came in at $66.51 million and beat revenue estimates by $17.30 million.

At the end of the second quarter of 2021, 33 hedge funds in the database of Insider Monkey held stakes worth $665 million in The Beauty Health Company (NASDAQ: SKIN), up from 0 in the previous quarter.

Out of the hedge funds being tracked by Insider Monkey, San Francisco-based hedge fund firm Redmile Group is a leading shareholder in The Beauty Health Company (NASDAQ: SKIN) with 6,353,246 shares worth more than $106 million.