Olaplex (NASDAQ:OLPX) Reaches New 1-Year High – Here’s What Happened

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $2.06 and last traded at $2.05, with a volume of 3270734 shares changing hands. The stock had previously closed at $2.06.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Jefferies Financial Group reiterated a “buy” rating on shares of Olaplex in a research report on Wednesday, March 4th. Barclays upped their target price on Olaplex from $1.75 to $2.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 14th. Northland Securities downgraded shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Morgan Stanley set a $1.40 price objective on shares of Olaplex in a research note on Tuesday, March 10th. Finally, Zacks Research raised shares of Olaplex from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $1.92.

Olaplex Price Performance

The stock has a fifty day moving average of $2.04 and a two-hundred day moving average of $1.73. 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 stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -102.50 and a beta of 1.86.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Monday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Olaplex had a positive return on equity of 2.23% and a negative net margin of 3.53%.The business had revenue of $99.37 million during the quarter, compared to analysts’ expectations of $94.11 million. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that Olaplex Holdings, Inc. will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Trisha L. Fox sold 16,324 shares of Olaplex 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 completion of the sale, the insider directly owned 1,064,039 shares of the company’s stock, valued at approximately $2,170,639.56. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 4.80% of the company’s stock.

Institutional Trading of Olaplex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC bought a new position in shares of Olaplex in the 1st quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in shares of Olaplex during the fourth quarter worth approximately $25,000. Abel Hall LLC acquired a new position in Olaplex in the fourth quarter valued at approximately $27,000. Schonfeld Strategic Advisors LLC bought a new position in Olaplex in the third quarter valued at approximately $30,000. Finally, Optiver Holding B.V. raised its position in shares of Olaplex by 999.5% during the 1st quarter. Optiver Holding B.V. now owns 24,123 shares of the company’s stock valued at $49,000 after acquiring an additional 21,929 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors and hedge funds.

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.