Olaplex (NASDAQ:OLPX) Stock Price Up 5.4%

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares rose 5.4% on Tuesday . The company traded as high as $1.57 and last traded at $1.55. Approximately 1,068,436 shares were traded during trading, a decline of 50% from the average daily volume of 2,135,317 shares. The stock had previously closed at $1.47.

Wall Street Analyst Weigh In

OLPX has been the topic of a number of analyst reports. Piper Sandler upgraded shares of Olaplex from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $1.25 to $2.00 in a research note on Tuesday, March 19th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a research note on Thursday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Olaplex presently has an average rating of “Hold” and an average target price of $2.51.

Olaplex Stock Performance

The stock has a market capitalization of $1.09 billion, a P/E ratio of 23.57 and a beta of 2.41. The business’s fifty day moving average price is $1.63 and its two-hundred day moving average price is $1.85. 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 issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $98.90 million for the quarter, compared to the consensus estimate of $95.15 million. Olaplex had a net margin of 10.91% and a return on equity of 11.61%. The firm’s revenue was down 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 EPS. As a group, sell-side analysts forecast that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Insiders Place Their Bets

In other Olaplex news, VP Kristi A. Belhumeur sold 42,480 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Olaplex

Several hedge funds have recently modified their holdings of the business. Simplicity Wealth LLC lifted its position in shares of Olaplex by 73.6% in the 2nd quarter. Simplicity Wealth LLC now owns 49,632 shares of the company’s stock worth $76,000 after purchasing an additional 21,041 shares during the period. Walleye Trading LLC purchased a new stake in shares of Olaplex in the 1st quarter worth approximately $53,000. Price T Rowe Associates Inc. MD lifted its position in Olaplex by 27.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,957 shares of the company’s stock valued at $60,000 after acquiring an additional 6,614 shares during the last quarter. PEAK6 Investments LLC purchased a new stake in Olaplex during the first quarter valued at approximately $232,000. Finally, Quadrature Capital Ltd lifted its position in Olaplex by 50.4% during the first quarter. Quadrature Capital Ltd now owns 88,206 shares of the company’s stock valued at $170,000 after acquiring an additional 29,545 shares during the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

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.