Olaplex (NASDAQ:OLPX) Trading 4.8% Higher

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price was up 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.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OLPX shares. Piper Sandler upgraded Olaplex from an “underweight” rating to a “neutral” rating and raised their price target for the company from $1.25 to $2.00 in a report 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 report on Friday, April 5th. Finally, Truist Financial decreased 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. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Olaplex has a consensus rating of “Hold” and a consensus price target of $2.59.

Olaplex Stock Performance

The company has a quick ratio of 9.21, a current ratio of 10.92 and a debt-to-equity ratio of 0.77. The stock has a market cap of $873.00 million, a P/E ratio of 14.67 and a beta of 2.28. The stock has a fifty day simple moving average of $1.74 and a 200-day simple moving average of $1.97.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $111.72 million for the quarter, compared to analyst estimates of $108.29 million. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. Olaplex’s revenue was down 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 earnings per share. Equities analysts expect that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olaplex

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in Olaplex in the 4th quarter valued at approximately $3,996,000. Pacer Advisors Inc. lifted its stake in Olaplex by 34.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock valued at $20,911,000 after acquiring an additional 2,124,323 shares in the last quarter. Vanguard Group Inc. lifted its stake in Olaplex by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock valued at $18,796,000 after acquiring an additional 787,242 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Olaplex in the 3rd quarter valued at approximately $82,000. Finally, Quadrature Capital Ltd lifted its stake in Olaplex by 34.6% in the 3rd quarter. Quadrature Capital Ltd now owns 74,057 shares of the company’s stock valued at $145,000 after acquiring an additional 19,019 shares in the last quarter. Institutional investors and hedge funds 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.