Olaplex (NASDAQ:OLPX) Stock Price Up 5.9%

Olaplex Holdings, Inc. (NASDAQ:OLPX) traded up 5.9% during mid-day trading on Friday . The stock traded as high as $2.34 and last traded at $2.34. 246,519 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,199,545 shares. The stock had previously closed at $2.21.

Analyst Upgrades and Downgrades

OLPX has been the topic of several research analyst reports. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 price target on shares of Olaplex in a report on Tuesday, August 6th. TD Cowen lifted their price objective on shares of Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.18.

Olaplex Trading Up 8.1 %

The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 34.43 and a beta of 2.42. The company has a fifty day moving average of $1.97 and a two-hundred day moving average of $1.77. The company has a quick ratio of 7.85, a current ratio of 9.27 and a debt-to-equity ratio of 0.75.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $103.90 million during the quarter, compared to the consensus estimate of $103.65 million. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. On average, research analysts expect that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Insider Activity at Olaplex

In related news, Director John P. Bilbrey acquired 183,493 shares of Olaplex stock in a transaction on Monday, August 19th. The shares were bought at an average price of $2.05 per share, for a total transaction of $376,160.65. Following the completion of the purchase, the director now directly owns 241,593 shares in the company, valued at approximately $495,265.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

A number of institutional investors have recently made changes to their positions in OLPX. Quadrant Capital Group LLC raised its stake in shares of Olaplex by 2,108.4% in the 4th quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock valued at $26,000 after purchasing an additional 9,593 shares in the last quarter. Catalina Capital Group LLC acquired a new stake in shares of Olaplex in the 1st quarter worth about $31,000. Quarry LP bought a new position in Olaplex in the 2nd quarter worth approximately $33,000. Vanguard Personalized Indexing Management LLC raised its position in Olaplex by 38.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock worth $40,000 after acquiring an additional 7,235 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Olaplex during the 2nd quarter worth $43,000. 87.37% of the stock is 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.