Olaplex (NASDAQ:OLPX) Sets New 1-Year High – Still a Buy?

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) reached a new 52-week high on Wednesday . The company traded as high as $2.06 and last traded at $2.05, with a volume of 6757748 shares changing hands. The stock had previously closed at $2.06.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on OLPX shares. Morgan Stanley set a $1.40 price target on Olaplex in a report on Tuesday, March 10th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Olaplex in a report on Wednesday, March 4th. Telsey Advisory Group upped their target price on shares of Olaplex from $2.00 to $2.06 and gave the stock a “market perform” rating in a research note on Friday, March 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Olaplex in a research report on Tuesday, April 21st. Finally, Evercore set a $2.50 price target on shares of Olaplex in a research report on Friday, March 6th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $1.92.

Olaplex Stock Down 0.5%

The company has a quick ratio of 5.34, a current ratio of 6.27 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.38 billion, a PE ratio of -102.50 and a beta of 1.86. The stock has a 50-day moving average of $2.04 and a 200 day moving average of $1.71.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $99.37 million for the quarter, compared to analysts’ expectations of $94.11 million. Olaplex had a positive return on equity of 2.23% and a negative net margin of 3.53%.The company’s quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts anticipate that Olaplex Holdings, Inc. will post 0.09 EPS for the current year.

Insider Buying and Selling at Olaplex

In related news, insider Trisha L. Fox sold 16,324 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $2.04, for a total value of $33,300.96. Following the transaction, the insider directly owned 1,064,039 shares of the company’s stock, valued at approximately $2,170,639.56. The trade was a 1.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 4.80% of the company’s stock.

Institutional Trading of Olaplex

A number of large investors have recently added to or reduced their stakes in OLPX. Headlands Technologies LLC purchased a new position in Olaplex in the fourth quarter valued at about $25,000. Abel Hall LLC bought a new position in shares of Olaplex during the 4th quarter valued at approximately $27,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Olaplex during the 3rd quarter worth approximately $30,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Olaplex during the 1st quarter worth approximately $36,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Olaplex by 95.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock worth $39,000 after purchasing an additional 14,507 shares during the period. Hedge funds and other institutional investors 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.