Olaplex (NASDAQ:OLPX) Trading Up 4.8%

Olaplex Holdings, Inc. (NASDAQ:OLPX) rose 4.8% during mid-day trading on Wednesday . The stock traded as high as $1.34 and last traded at $1.32. Approximately 501,569 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 2,038,436 shares. The stock had previously closed at $1.26.

Analyst Upgrades and Downgrades

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

Olaplex Price Performance

The stock has a fifty day simple moving average of $1.78 and a two-hundred day simple moving average of $1.98. The company has a market cap of $889.53 million, a PE ratio of 14.00 and a beta of 2.28. The company has a current ratio of 10.92, a quick ratio of 9.21 and a debt-to-equity ratio of 0.77.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $111.72 million during the quarter, compared to the consensus estimate of $108.29 million. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. The company’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. On average, equities analysts predict that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Institutional Trading of Olaplex

Institutional investors have recently added to or reduced their stakes in the business. Oak Thistle LLC acquired a new position in Olaplex in the 3rd quarter worth $25,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Olaplex by 99.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,895 shares of the company’s stock valued at $80,000 after purchasing an additional 20,383 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Olaplex by 579.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 296,499 shares of the company’s stock valued at $578,000 after purchasing an additional 252,848 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Olaplex in the 3rd quarter valued at about $36,000. Finally, Victory Capital Management Inc. raised its stake in shares of Olaplex by 311.7% in the 3rd quarter. Victory Capital Management Inc. now owns 55,598 shares of the company’s stock valued at $108,000 after purchasing an additional 42,093 shares in the last quarter. 87.37% of the stock is owned by hedge funds and other institutional investors.

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.