Olaplex (NASDAQ:OLPX) Shares Up 1.8%

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) rose 1.8% during mid-day trading on Tuesday . The stock traded as high as $1.44 and last traded at $1.41. Approximately 142,667 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 2,042,883 shares. The stock had previously closed at $1.38.

Wall Street Analysts Forecast Growth

OLPX has been the subject of several research analyst reports. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a report on Friday, April 5th. Piper Sandler raised shares of Olaplex from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $1.25 to $2.00 in a research report on Tuesday, March 19th. Finally, Truist Financial cut their price objective on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.59.

Olaplex Stock Down 6.5 %

The firm’s 50-day simple moving average is $1.84 and its 200 day simple moving average is $2.00. The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.21 and a current ratio of 10.92. The stock has a market capitalization of $853.15 million, a P/E ratio of 14.33 and a beta of 2.28.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The firm had revenue of $111.72 million for the quarter, compared to analysts’ expectations of $108.29 million. During the same period in the previous year, the firm posted $0.07 EPS. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. As a group, research analysts expect that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Olaplex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oak Thistle LLC bought a new stake in shares of Olaplex in the 3rd quarter valued at about $25,000. Quadrant Capital Group LLC raised its holdings 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 during the period. Townsquare Capital LLC bought a new stake in shares of Olaplex in the 4th quarter valued at about $26,000. American International Group Inc. raised its holdings in shares of Olaplex by 98.6% in the 2nd quarter. American International Group Inc. now owns 1,940 shares of the company’s stock valued at $27,000 after purchasing an additional 963 shares during the period. Finally, Quent Capital LLC raised its holdings in shares of Olaplex by 2,463.8% in the 4th quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock valued at $28,000 after purchasing an additional 10,742 shares during the period. 87.37% of the stock is owned by institutional investors.

Olaplex Company Profile

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.