Olaplex (NASDAQ:OLPX) Sets New 52-Week High – Time to Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price reached a new 52-week high on Wednesday . The company traded as high as $2.04 and last traded at $2.03, with a volume of 5146911 shares trading hands. The stock had previously closed at $2.03.

Analyst Ratings Changes

Several brokerages have commented on OLPX. Canaccord Genuity Group cut shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Wall Street Zen upgraded Olaplex from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Telsey Advisory Group lifted their target price on Olaplex from $2.00 to $2.06 and gave the company a “market perform” rating in a research report on Friday, March 27th. Evercore set a $2.50 target price on Olaplex in a report on Friday, March 6th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Olaplex in a research report on Wednesday, March 4th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $1.89.

Olaplex Stock Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.00 and a current ratio of 4.58. The stock’s fifty day moving average price is $1.53 and its 200-day moving average price is $1.36. The company has a market capitalization of $1.36 billion, a P/E ratio of -203.00 and a beta of 2.24.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings results on Thursday, March 5th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $105.12 million during the quarter, compared to analysts’ expectations of $104.21 million. Olaplex had a positive return on equity of 1.07% and a negative net margin of 2.19%.Olaplex’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.01 earnings per share. As a group, research analysts anticipate that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Insider Activity

In related news, insider Trisha L. Fox sold 25,421 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $32,030.46. Following the sale, the insider owned 1,080,363 shares in the company, valued at approximately $1,361,257.38. This represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Catherine Dunleavy sold 93,809 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total value of $118,199.34. Following the completion of the sale, the chief financial officer owned 3,026,885 shares in the company, valued at approximately $3,813,875.10. This trade represents a 3.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 215,442 shares of company stock valued at $271,457 over the last three months. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Several institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC bought a new position in shares of Olaplex in the first quarter valued at about $576,000. Jane Street Group LLC lifted its stake in shares of Olaplex by 151.8% during the 1st quarter. Jane Street Group LLC now owns 88,321 shares of the company’s stock worth $112,000 after buying an additional 258,873 shares during the last quarter. Creative Planning boosted its holdings in shares of Olaplex by 35.0% during the 2nd quarter. Creative Planning now owns 37,357 shares of the company’s stock worth $52,000 after buying an additional 9,690 shares during the period. Norges Bank bought a new stake in shares of Olaplex during the 2nd quarter worth about $105,000. Finally, Marshall Wace LLP grew its stake in Olaplex by 121.4% in the 2nd quarter. Marshall Wace LLP now owns 346,347 shares of the company’s stock valued at $485,000 after buying an additional 189,947 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors and hedge funds.

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.