Olaplex (NASDAQ:OLPX) Shares Gap Up – Here’s What Happened

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $1.38, but opened at $1.49. Olaplex shares last traded at $1.50, with a volume of 2,246,841 shares traded.

Analysts Set New Price Targets

OLPX has been the topic of a number of research reports. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a report on Tuesday. Barclays decreased their price objective on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Piper Sandler increased their price objective on shares of Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.10.

Olaplex Price Performance

The business’s 50 day moving average price is $1.55 and its 200-day moving average price is $1.91. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73. The company has a market cap of $1.10 billion, a PE ratio of 27.59 and a beta of 2.45.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Olaplex had a return on equity of 10.50% and a net margin of 9.78%. As a group, analysts forecast that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its position in shares of Olaplex by 181.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 24,500,600 shares of the company’s stock valued at $42,387,000 after purchasing an additional 15,800,642 shares in the last quarter. Boston Partners raised its holdings in Olaplex by 276.0% in the fourth quarter. Boston Partners now owns 6,674,169 shares of the company’s stock valued at $11,257,000 after acquiring an additional 4,899,171 shares in the last quarter. Jane Street Group LLC boosted its stake in Olaplex by 5,728.5% during the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock valued at $6,188,000 after acquiring an additional 2,588,216 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of Olaplex by 99.3% in the 4th quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company’s stock valued at $7,335,000 after purchasing an additional 2,112,009 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Olaplex by 162.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company’s stock valued at $4,008,000 after purchasing an additional 1,432,400 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

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.