Olaplex (NASDAQ:OLPX) Trading Up 6% – Here’s What Happened

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price traded up 6% on Wednesday . The company traded as high as $1.35 and last traded at $1.3150. 1,511,857 shares were traded during trading, a decline of 14% from the average session volume of 1,756,412 shares. The stock had previously closed at $1.24.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on OLPX shares. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a report on Thursday, January 22nd. Barclays set a $1.75 target price on shares of Olaplex in a research report on Friday, January 16th. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price target on shares of Olaplex in a research note on Monday, March 2nd. Wall Street Zen raised Olaplex from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Evercore set a $2.50 price target on Olaplex in a research report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $1.88.

Olaplex Stock Performance

The stock has a market cap of $869.55 million, a price-to-earnings ratio of -129.80 and a beta of 2.24. The firm’s 50-day moving average is $1.52 and its two-hundred day moving average is $1.35. The company has a current ratio of 4.58, a quick ratio of 4.00 and a debt-to-equity ratio of 0.40.

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

Insider Buying and Selling

In other Olaplex news, insider Trisha L. Fox sold 25,421 shares of Olaplex stock in a transaction on 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 in the company, valued at $1,361,257.38. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Catherine Dunleavy sold 93,809 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $118,199.34. Following the sale, the chief financial officer directly owned 3,026,885 shares of the company’s stock, valued at $3,813,875.10. The trade was a 3.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 215,442 shares of company stock worth $271,457. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Several institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of Olaplex during the fourth quarter worth about $25,000. Chilton Capital Management LLC purchased a new position in shares of Olaplex in the third quarter valued at approximately $26,000. Abel Hall LLC acquired a new position in shares of Olaplex in the fourth quarter valued at approximately $27,000. Schonfeld Strategic Advisors LLC purchased a new stake in Olaplex during the 3rd quarter worth approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Olaplex during the 3rd quarter worth approximately $32,000. 87.37% of the stock is owned by institutional investors and hedge funds.

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.