Olaplex (NASDAQ:OLPX) Stock Price Up 4.8%

Olaplex Holdings, Inc. (NASDAQ:OLPX) rose 4.8% during mid-day trading on Wednesday . The stock traded as high as $1.34 and last traded at $1.32. Approximately 501,569 shares were traded during trading, a decline of 75% from the average daily volume of 2,038,436 shares. The stock had previously closed at $1.26.

Analyst Ratings Changes

OLPX has been the topic of a number of recent research reports. Truist Financial dropped their price objective on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a report on Friday, April 5th. Finally, Piper Sandler upgraded shares of Olaplex from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $1.25 to $2.00 in a report on Tuesday, March 19th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.59.

Olaplex Price Performance

The stock has a market cap of $889.53 million, a PE ratio of 14.00 and a beta of 2.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 10.92 and a quick ratio of 9.21. The firm’s 50 day moving average price is $1.78 and its two-hundred day moving average price is $1.98.

Olaplex (NASDAQ:OLPX) last posted its earnings results on Thursday, February 29th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The firm had revenue of $111.72 million during the quarter, compared to the consensus estimate of $108.29 million. During the same quarter last year, the company earned $0.07 earnings per share. The company’s revenue was down 14.5% on a year-over-year basis. On average, research analysts expect that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Olaplex

A number of large investors have recently modified their holdings of the company. Pacer Advisors Inc. lifted its position in Olaplex by 34.8% during the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock valued at $20,911,000 after purchasing an additional 2,124,323 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Olaplex in the 4th quarter worth about $3,996,000. Vanguard Group Inc. boosted its stake in Olaplex by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock worth $18,796,000 after purchasing an additional 787,242 shares in the last quarter. Sanders Morris Harris LLC bought a new position in Olaplex in the 1st quarter worth about $660,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Olaplex by 119,729.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 336,722 shares of the company’s stock valued at $855,000 after acquiring an additional 336,441 shares during the period. 87.37% of the stock is currently owned by institutional investors.

About Olaplex

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.