Olaplex Holdings, Inc. (NASDAQ:OLPX) Receives $1.85 Average Price Target from Brokerages

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) have been given a consensus rating of “Hold” by the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $1.85.

Several equities research analysts have issued reports on OLPX shares. Wall Street Zen raised shares of Olaplex from a “sell” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group initiated coverage on Olaplex in a report on Wednesday, January 14th. They issued a “hold” rating and a $1.50 price target for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Olaplex in a research note on Thursday, January 22nd. Northland Securities began coverage on Olaplex in a research report on Thursday, November 20th. They set an “outperform” rating and a $2.00 target price for the company. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a report on Friday, November 7th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Portolan Capital Management LLC raised its holdings in shares of Olaplex by 132.6% in the 3rd quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock valued at $4,762,000 after purchasing an additional 2,072,383 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in Olaplex by 1,314.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,508,013 shares of the company’s stock valued at $2,111,000 after buying an additional 1,401,369 shares during the period. Bridgeway Capital Management LLC raised its stake in Olaplex by 56.2% in the second quarter. Bridgeway Capital Management LLC now owns 2,629,139 shares of the company’s stock worth $3,681,000 after buying an additional 946,265 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Olaplex by 242,052.7% in the third quarter. Russell Investments Group Ltd. now owns 496,413 shares of the company’s stock worth $650,000 after buying an additional 496,208 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in Olaplex by 536.1% during the second quarter. Jane Street Group LLC now owns 561,806 shares of the company’s stock worth $787,000 after buying an additional 473,485 shares during the period. 87.37% of the stock is currently owned by institutional investors.

Olaplex Stock Performance

OLPX stock opened at $1.48 on Thursday. Olaplex has a twelve month low of $0.99 and a twelve month high of $1.84. The firm has a market cap of $987.91 million, a price-to-earnings ratio of 75.00 and a beta of 2.26. The business’s fifty day simple moving average is $1.44 and its two-hundred day simple moving average is $1.34. The company has a quick ratio of 3.52, a current ratio of 4.16 and a debt-to-equity ratio of 0.40.

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.