Olaplex (NASDAQ:OLPX) Trading 1.8% Higher

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) traded up 1.8% on Tuesday . The stock traded as high as $1.44 and last traded at $1.41. 142,667 shares were traded during trading, a decline of 93% from the average session volume of 2,042,883 shares. The stock had previously closed at $1.38.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Truist Financial reduced their price target on Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a report on Friday, April 5th. Finally, Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $1.25 to $2.00 in a report on Tuesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.59.

Olaplex Stock Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 10.92 and a quick ratio of 9.21. The firm has a fifty day simple moving average of $1.89 and a 200 day simple moving average of $2.01. The company has a market capitalization of $925.06 million, a price-to-earnings ratio of 15.34 and a beta of 2.28.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $111.72 million for the quarter, compared to analyst estimates of $108.29 million. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. The business’s revenue was down 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. On average, analysts anticipate that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Olaplex

A number of institutional investors have recently made changes to their positions in OLPX. JPMorgan Chase & Co. boosted its stake in shares of Olaplex by 13,198.8% in the first quarter. JPMorgan Chase & Co. now owns 227,276 shares of the company’s stock worth $3,551,000 after acquiring an additional 225,567 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Olaplex during the first quarter worth approximately $158,000. Citigroup Inc. lifted its position in Olaplex by 179.3% during the first quarter. Citigroup Inc. now owns 43,136 shares of the company’s stock worth $674,000 after buying an additional 27,690 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Olaplex during the first quarter worth approximately $36,000. Finally, Rhumbline Advisers lifted its position in Olaplex by 2.4% during the first quarter. Rhumbline Advisers now owns 62,830 shares of the company’s stock worth $982,000 after buying an additional 1,456 shares in the last quarter. 87.37% of the stock is owned by institutional investors and hedge funds.

About Olaplex

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.