ODDITY Tech Sees Unusually Large Options Volume (NASDAQ:ODD)

ODDITY Tech Ltd. (NASDAQ:ODD) was the target of some unusual options trading activity on Wednesday. Investors purchased 9,433 call options on the company. This is an increase of 376% compared to the average daily volume of 1,981 call options.

Analysts Set New Price Targets

Several research firms have weighed in on ODD. KeyCorp restated a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, June 2nd. The Goldman Sachs Group lowered shares of ODDITY Tech from a “hold” rating to a “sell” rating and lowered their price objective for the company from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $10.25 price objective on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Finally, Wall Street Zen downgraded shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Eight research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $25.39.

ODDITY Tech Trading Up 5.2%

ODD opened at $17.90 on Friday. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 22.66 and a beta of 2.37. The stock’s 50 day moving average price is $13.11 and its 200-day moving average price is $21.48. ODDITY Tech has a one year low of $9.25 and a one year high of $77.83. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06.

ODDITY Tech (NASDAQ:ODD) last released its earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The firm’s revenue for the quarter was down 26.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. On average, equities analysts forecast that ODDITY Tech will post -0.46 EPS for the current year.

Insider Activity at ODDITY Tech

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 109,602 shares of ODDITY Tech stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total value of $1,653,894.18. Following the sale, the chief financial officer directly owned 77,709 shares in the company, valued at approximately $1,172,628.81. The trade was a 58.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 128,805 shares of company stock valued at $1,932,910 over the last quarter.

Hedge Funds Weigh In On ODDITY Tech

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in ODDITY Tech by 16.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,117 shares of the company’s stock worth $3,293,000 after acquiring an additional 10,582 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of ODDITY Tech by 12.9% in the 2nd quarter. Geode Capital Management LLC now owns 75,063 shares of the company’s stock valued at $5,660,000 after acquiring an additional 8,561 shares during the period. Legal & General Group Plc bought a new position in shares of ODDITY Tech in the 2nd quarter worth $71,000. American Century Companies Inc. lifted its stake in shares of ODDITY Tech by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 14,300 shares of the company’s stock worth $1,079,000 after purchasing an additional 2,105 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in ODDITY Tech in the second quarter valued at about $327,000. Institutional investors own 35.88% of the company’s stock.

ODDITY Tech Company Profile

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.