Olaplex (NASDAQ:OLPX) Reaches New 12-Month High on Better-Than-Expected Earnings

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price reached a new 52-week high during trading on Monday following a better than expected earnings announcement. The company traded as high as $2.04 and last traded at $2.0350, with a volume of 534760 shares. The stock had previously closed at $2.04.

The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $99.37 million during the quarter, compared to analysts’ expectations of $94.11 million. Olaplex had a positive return on equity of 1.07% and a negative net margin of 2.19%.The business’s quarterly revenue was up 2.5% compared to the same quarter last year.

Analyst Ratings Changes

Several brokerages have issued reports on OLPX. Telsey Advisory Group increased their price target on Olaplex from $2.00 to $2.06 and gave the stock a “market perform” rating in a report on Friday, March 27th. Evercore set a $2.50 price target on Olaplex in a report on Friday, March 6th. Wall Street Zen upgraded Olaplex from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Jefferies Financial Group reiterated a “buy” rating on shares of Olaplex in a report on Wednesday, March 4th. Finally, Barclays increased their price target on Olaplex from $1.75 to $2.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $1.92.

Insider Activity

In other news, CFO Catherine Dunleavy sold 93,809 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $118,199.34. Following the transaction, the chief financial officer owned 3,026,885 shares in the company, valued at $3,813,875.10. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel John C. Duffy sold 34,962 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total value of $44,052.12. Following the completion of the transaction, the general counsel owned 982,855 shares in the company, valued at $1,238,397.30. This represents a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 215,442 shares of company stock worth $271,457 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Olaplex

A number of large investors have recently bought and sold shares of OLPX. Empowered Funds LLC purchased a new stake in Olaplex in the first quarter worth $576,000. Jane Street Group LLC increased its position in Olaplex by 151.8% in the first quarter. Jane Street Group LLC now owns 88,321 shares of the company’s stock worth $112,000 after buying an additional 258,873 shares during the last quarter. Creative Planning increased its position in Olaplex by 35.0% in the second quarter. Creative Planning now owns 37,357 shares of the company’s stock worth $52,000 after buying an additional 9,690 shares during the last quarter. Norges Bank purchased a new stake in Olaplex in the second quarter worth $105,000. Finally, Marshall Wace LLP increased its position in Olaplex by 121.4% in the second quarter. Marshall Wace LLP now owns 346,347 shares of the company’s stock worth $485,000 after buying an additional 189,947 shares during the last quarter. 87.37% of the stock is owned by hedge funds and other institutional investors.

Olaplex Stock Performance

The company has a market capitalization of $1.37 billion, a PE ratio of -203.50 and a beta of 1.87. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $1.76 and a two-hundred day moving average price of $1.49.

Olaplex Company Profile

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.