Olaplex (NASDAQ:OLPX) Sets New 52-Week High – Time to Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $2.04 and last traded at $2.03, with a volume of 5146911 shares traded. The stock had previously closed at $2.03.

Analyst Ratings Changes

A number of research firms have recently weighed in on OLPX. Barclays set a $1.75 price target on Olaplex in a research note on Friday, January 16th. Zacks Research raised Olaplex from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Telsey Advisory Group upped their price objective on Olaplex from $2.00 to $2.06 and gave the company a “market perform” rating in a report on Friday, March 27th. Jefferies Financial Group reissued a “buy” rating on shares of Olaplex in a research note on Wednesday, March 4th. Finally, Wall Street Zen upgraded Olaplex from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $1.89.

Olaplex Price Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.00 and a current ratio of 4.58. The company has a 50-day moving average of $1.53 and a 200-day moving average of $1.36. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -203.00 and a beta of 2.24.

Olaplex (NASDAQ:OLPX) last announced its earnings results on Thursday, March 5th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Olaplex had a negative net margin of 2.19% and a positive return on equity of 1.07%. The firm had revenue of $105.12 million for the quarter, compared to the consensus estimate of $104.21 million. During the same period last year, the company posted $0.01 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, research analysts anticipate that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Insider Activity at Olaplex

In other Olaplex news, insider Trisha L. Fox sold 25,421 shares of Olaplex stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $32,030.46. Following the sale, the insider owned 1,080,363 shares of the company’s stock, valued at $1,361,257.38. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Catherine Dunleavy sold 93,809 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $1.26, for a total value of $118,199.34. Following the completion of the sale, the chief financial officer owned 3,026,885 shares in the company, valued at approximately $3,813,875.10. This trade represents a 3.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 215,442 shares of company stock valued at $271,457. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Olaplex

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC acquired a new position in Olaplex during the 1st quarter worth approximately $576,000. Jane Street Group LLC raised its holdings in shares of Olaplex by 151.8% in the first quarter. Jane Street Group LLC now owns 88,321 shares of the company’s stock valued at $112,000 after purchasing an additional 258,873 shares during the last quarter. Creative Planning raised its holdings in shares of Olaplex by 35.0% in the second quarter. Creative Planning now owns 37,357 shares of the company’s stock valued at $52,000 after purchasing an additional 9,690 shares during the last quarter. Norges Bank bought a new stake in shares of Olaplex in the second quarter worth $105,000. Finally, Marshall Wace LLP boosted its holdings in Olaplex by 121.4% during the second quarter. Marshall Wace LLP now owns 346,347 shares of the company’s stock worth $485,000 after purchasing an additional 189,947 shares during the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.

About Olaplex

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.