Olaplex (NASDAQ:OLPX) Reaches New 52-Week High – Here’s What Happened

Olaplex Holdings, Inc. (NASDAQ:OLPX) reached a new 52-week high on Wednesday . The stock 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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OLPX. Northland Securities cut Olaplex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Jefferies Financial Group reissued a “buy” rating on shares of Olaplex in a research note on Wednesday, March 4th. Canaccord Genuity Group cut Olaplex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Wall Street Zen raised Olaplex from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Barclays raised their price objective on shares of Olaplex from $1.75 to $2.00 and gave the company an “equal weight” rating in a report on Tuesday, April 14th. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $1.92.

Olaplex Stock Performance

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

Olaplex (NASDAQ:OLPX) last issued its earnings results on Monday, May 11th. The company reported $0.02 earnings per share (EPS) 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 analyst estimates of $94.11 million. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Olaplex Holdings, Inc. will post 0.09 earnings per share for the current year.

Insider Buying and Selling at Olaplex

In related news, insider Trisha L. Fox sold 16,324 shares of the stock in a transaction on Tuesday, May 26th. The stock was 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 in the company, valued at $2,170,639.56. This trade represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Portolan Capital Management LLC grew its holdings in shares of Olaplex by 132.6% during the third quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock valued at $4,762,000 after buying an additional 2,072,383 shares during the last quarter. PSquared Asset Management AG bought a new position in Olaplex in the 1st quarter valued at about $2,874,000. Russell Investments Group Ltd. lifted its position in Olaplex by 284.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,909,836 shares of the company’s stock valued at $2,559,000 after acquiring an additional 1,413,423 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Olaplex by 1,314.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,508,013 shares of the company’s stock valued at $2,111,000 after purchasing an additional 1,401,369 shares during the last quarter. Finally, Archon Capital Management LLC boosted its stake in Olaplex by 40.4% during the 4th quarter. Archon Capital Management LLC now owns 4,466,876 shares of the company’s stock valued at $5,986,000 after purchasing an additional 1,284,557 shares during the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.

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.