Needham & Company LLC Reiterates Buy Rating for Celsius (NASDAQ:CELH)

Celsius (NASDAQ:CELH)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $38.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 49.84% from the stock’s previous close.

Several other research analysts have also recently commented on CELH. Truist Financial boosted their price target on shares of Celsius from $30.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Celsius in a research note on Thursday, December 12th. They set a “hold” rating and a $32.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Celsius in a research note on Thursday, December 12th. They issued an “overweight” rating and a $37.00 price target on the stock. Piper Sandler lowered their price objective on Celsius from $47.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $42.00 target price on shares of Celsius in a research report on Thursday, December 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Celsius currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Celsius Price Performance

CELH opened at $25.36 on Tuesday. The business has a fifty day moving average price of $27.96 and a 200 day moving average price of $33.14. Celsius has a 12 month low of $24.42 and a 12 month high of $99.62. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 2.79 and a beta of 1.79.

Insider Activity

In other news, major shareholder William H. Milmoe sold 65,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $31.15, for a total value of $2,024,750.00. Following the transaction, the insider now owns 261,245 shares of the company’s stock, valued at approximately $8,137,781.75. The trade was a 19.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Celsius

A number of hedge funds and other institutional investors have recently bought and sold shares of CELH. SG Americas Securities LLC lifted its stake in shares of Celsius by 10,320.0% in the 4th quarter. SG Americas Securities LLC now owns 1,932,813 shares of the company’s stock worth $50,910,000 after acquiring an additional 1,914,264 shares during the period. Worldquant Millennium Advisors LLC lifted its position in Celsius by 993.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,180,904 shares of the company’s stock valued at $37,033,000 after purchasing an additional 1,072,859 shares during the period. MIG Capital LLC acquired a new stake in Celsius in the third quarter valued at about $30,358,000. Charles Schwab Investment Management Inc. increased its position in Celsius by 19.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,381,279 shares of the company’s stock worth $43,317,000 after purchasing an additional 221,833 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in shares of Celsius during the 3rd quarter worth approximately $5,700,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.