Olaplex (NASDAQ:OLPX) Reaches New 1-Year High – What’s Next?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price reached a new 52-week high on Monday . The company traded as high as $2.04 and last traded at $2.0350, with a volume of 364632 shares changing hands. The stock had previously closed at $2.03.

Analyst Upgrades and Downgrades

OLPX has been the topic of a number of analyst reports. Telsey Advisory Group lifted their price objective on shares of Olaplex from $2.00 to $2.06 and gave the company a “market perform” rating in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Olaplex from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a research report on Tuesday, April 21st. Finally, Canaccord Genuity Group lowered shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $1.92.

Olaplex Stock Up 0.2%

The company has a market capitalization of $1.36 billion, a PE ratio of -203.50 and a beta of 1.88. The firm’s 50-day simple moving average is $1.74 and its 200 day simple moving average is $1.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.00 and a current ratio of 4.58.

Olaplex (NASDAQ:OLPX) last issued its earnings results on Thursday, March 5th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $105.12 million for the quarter, compared to analyst estimates of $104.21 million. Olaplex had a negative net margin of 2.19% and a positive return on equity of 1.07%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. As a group, equities research analysts forecast that Olaplex Holdings, Inc. will post 0.09 earnings per share for the current year.

Insider Transactions at Olaplex

In other news, General Counsel John C. Duffy sold 34,962 shares of Olaplex stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $1.26, for a total transaction of $44,052.12. Following the completion of the transaction, the general counsel owned 982,855 shares of the company’s stock, valued at $1,238,397.30. The trade was a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Catherine Dunleavy sold 93,809 shares of Olaplex stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $118,199.34. Following the transaction, the chief financial officer directly owned 3,026,885 shares of the company’s stock, valued at $3,813,875.10. This trade represents a 3.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 215,442 shares of company stock valued at $271,457 in the last 90 days. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Abel Hall LLC raised its stake in shares of Olaplex by 44.6% during the 1st quarter. Abel Hall LLC now owns 28,663 shares of the company’s stock worth $58,000 after buying an additional 8,845 shares during the last quarter. Creative Planning raised its stake in Olaplex by 35.0% in the 2nd quarter. Creative Planning now owns 37,357 shares of the company’s stock valued at $52,000 after purchasing an additional 9,690 shares during the last quarter. Intech Investment Management LLC raised its stake in Olaplex by 15.8% in the 3rd quarter. Intech Investment Management LLC now owns 74,780 shares of the company’s stock valued at $98,000 after purchasing an additional 10,192 shares during the last quarter. Arizona State Retirement System raised its stake in Olaplex by 27.4% in the 3rd quarter. Arizona State Retirement System now owns 49,263 shares of the company’s stock valued at $65,000 after purchasing an additional 10,609 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Olaplex by 95.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock valued at $39,000 after purchasing an additional 14,507 shares during the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.

About Olaplex

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.