Olaplex (NASDAQ:OLPX) Stock Price Up 5.5%

Olaplex Holdings, Inc. (NASDAQ:OLPX) shot up 5.5% on Friday . The stock traded as high as $1.54 and last traded at $1.53. 234,049 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,952,396 shares. The stock had previously closed at $1.45.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OLPX. Truist Financial reduced their price target on Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a report on Thursday, May 2nd. Finally, Piper Sandler upgraded Olaplex from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $1.25 to $2.00 in a report on Tuesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.51.

Olaplex Price Performance

The firm has a fifty day simple moving average of $1.59 and a 200 day simple moving average of $1.97. The company has a market capitalization of $996.01 million, a PE ratio of 20.71 and a beta of 2.34. The company has a debt-to-equity ratio of 0.76, a quick ratio of 9.12 and a current ratio of 10.71.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. Olaplex had a return on equity of 11.61% and a net margin of 10.91%. The company had revenue of $98.90 million for the quarter, compared to the consensus estimate of $95.15 million. During the same period last year, the business posted $0.05 EPS. Olaplex’s quarterly revenue was down 13.1% on a year-over-year basis. Equities analysts anticipate that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Insider Activity

In other news, VP Kristi A. Belhumeur sold 42,480 shares of Olaplex stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $1.68, for a total value of $71,366.40. Following the transaction, the vice president now directly owns 294,553 shares in the company, valued at approximately $494,849.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its position 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 worth $26,000 after purchasing an additional 9,593 shares in the last quarter. Quent Capital LLC boosted its position 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 worth $28,000 after purchasing an additional 10,742 shares in the last quarter. Catalina Capital Group LLC acquired a new stake in shares of Olaplex in the 1st quarter worth $31,000. HB Wealth Management LLC acquired a new stake in shares of Olaplex in the 4th quarter worth $35,000. Finally, M&T Bank Corp acquired a new stake in shares of Olaplex in the 3rd quarter worth $36,000. 87.37% of the stock is currently owned by hedge funds and other 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.