Olaplex (NASDAQ:OLPX) Trading Up 6.7% – What’s Next?

Olaplex Holdings, Inc. (NASDAQ:OLPX) shot up 6.7% during trading on Monday . The company traded as high as $2.06 and last traded at $2.06. 626,751 shares were traded during trading, a decline of 74% from the average session volume of 2,411,249 shares. The stock had previously closed at $1.93.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OLPX. Telsey Advisory Group reissued a “market perform” rating and issued a $3.00 price target on shares of Olaplex in a report on Thursday, November 7th. Barclays reduced their target price on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Finally, TD Cowen lifted their price target on shares of Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.30.

Olaplex Price Performance

The stock has a market cap of $1.39 billion, a PE ratio of 33.17 and a beta of 2.47. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32. The firm’s 50 day moving average price is $2.04 and its two-hundred day moving average price is $1.94.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $119.10 million during the quarter, compared to analyst estimates of $126.51 million. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. Olaplex’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. On average, research analysts expect that Olaplex Holdings, Inc. will post 0.11 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John P. Bilbrey purchased 25,128 shares of the business’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $1.76 per share, with a total value of $44,225.28. Following the acquisition, the director now directly owns 266,721 shares in the company, valued at approximately $469,428.96. This trade represents a 10.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Olaplex

Hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its position in shares of Olaplex by 42.0% in the second quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock valued at $30,317,000 after acquiring an additional 5,824,889 shares during the period. Jane Street Group LLC raised its position in Olaplex by 5,728.5% during the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock valued at $6,188,000 after purchasing an additional 2,588,216 shares during the last quarter. Scion Asset Management LLC purchased a new stake in Olaplex in the 2nd quarter worth approximately $1,533,000. Vanguard Group Inc. grew its position in shares of Olaplex by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock worth $22,915,000 after buying an additional 929,693 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Olaplex by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock worth $8,717,000 after buying an additional 468,570 shares during the last quarter. 87.37% of the stock is owned by 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.