Olaplex (NASDAQ:OLPX) Trading Up 6.8%

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price was up 6.8% during mid-day trading on Tuesday . The stock traded as high as $1.72 and last traded at $1.72. Approximately 277,224 shares changed hands during trading, a decline of 87% from the average daily volume of 2,124,534 shares. The stock had previously closed at $1.61.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on OLPX shares. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a report on Friday. Piper Sandler raised shares of Olaplex from an “underweight” rating to a “neutral” rating and upped their target price for the company from $1.25 to $2.00 in a research note on Tuesday, March 19th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.51.

Olaplex Stock Performance

The firm has a market cap of $1.17 billion, a P/E ratio of 23.00 and a beta of 2.41. The company has a debt-to-equity ratio of 0.76, a current ratio of 10.71 and a quick ratio of 9.12. The stock’s 50 day moving average is $1.63 and its two-hundred day moving average is $1.83.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $98.90 million for the quarter, compared to analyst estimates of $95.15 million. Olaplex had a net margin of 10.91% and a return on equity of 11.61%. The company’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 earnings per share. As a group, equities analysts predict that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Insider Buying and Selling at Olaplex

In other Olaplex news, VP Kristi A. Belhumeur sold 42,480 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $1.68, for a total value of $71,366.40. Following the transaction, the vice president now directly owns 294,553 shares in the company, valued at $494,849.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

A number of large investors have recently modified their holdings of OLPX. Pacer Advisors Inc. lifted its position in shares of Olaplex by 34.8% during the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock worth $20,911,000 after purchasing an additional 2,124,323 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Olaplex during the fourth quarter worth approximately $3,996,000. Vanguard Group Inc. lifted its holdings in Olaplex by 8.4% in the first quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock valued at $22,915,000 after buying an additional 929,693 shares during the period. Sanders Morris Harris LLC acquired a new position in Olaplex in the first quarter valued at approximately $660,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Olaplex by 119,729.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 336,722 shares of the company’s stock valued at $855,000 after buying an additional 336,441 shares during the period. 87.37% of the stock is currently owned by institutional investors and hedge funds.

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.