Olaplex (NASDAQ:OLPX) Trading 6.5% Higher – Here’s Why

Olaplex Holdings, Inc. (NASDAQ:OLPX) shot up 6.5% on Tuesday . The company traded as high as $1.4250 and last traded at $1.3850. 743,020 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 1,255,509 shares. The stock had previously closed at $1.30.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Northland Capmk raised shares of Olaplex to a “strong-buy” rating in a research note on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a report on Wednesday, October 8th. Wall Street Zen lowered Olaplex from a “hold” rating to a “sell” rating in a research report on Saturday, November 29th. Barclays decreased their price target on Olaplex from $1.50 to $1.25 and set an “equal weight” rating for the company in a research report on Monday, November 10th. Finally, Zacks Research raised shares of Olaplex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $1.85.

Olaplex Stock Up 6.5%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.52 and a current ratio of 4.16. The business’s 50 day moving average is $1.14 and its 200-day moving average is $1.32. The firm has a market capitalization of $924.50 million, a price-to-earnings ratio of 63.50 and a beta of 2.27.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. Olaplex had a negative net margin of 1.18% and a positive return on equity of 1.31%. The firm had revenue of $114.58 million during the quarter, compared to the consensus estimate of $109.77 million. During the same period in the prior year, the firm earned $0.04 EPS. The business’s revenue was down 3.8% on a year-over-year basis. Equities analysts anticipate that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Trading of Olaplex

A number of hedge funds have recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Olaplex in the second quarter valued at $25,000. Chilton Capital Management LLC bought a new stake in Olaplex in the 3rd quarter valued at $26,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Olaplex in the 3rd quarter valued at $30,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Olaplex during the 3rd quarter worth about $32,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Olaplex by 95.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock valued at $39,000 after acquiring an additional 14,507 shares in the last quarter. Institutional investors own 87.37% of the company’s stock.

Olaplex Company Profile

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.