Olaplex (NASDAQ:OLPX) Hits New 1-Year High – Should You Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $1.8387 and last traded at $1.6550, with a volume of 4812228 shares changing hands. The stock had previously closed at $1.35.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Northland Securities assumed coverage on shares of Olaplex in a research report on Thursday, November 20th. They issued an “outperform” rating and a $2.00 price objective for the company. Zacks Research raised shares of Olaplex from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Wall Street Zen cut shares of Olaplex from a “hold” rating to a “sell” rating in a research report on Saturday, November 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a research report on Wednesday, October 8th. Finally, Northland Capmk raised Olaplex to a “strong-buy” rating in a research note on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $1.81.

Olaplex Stock Up 19.6%

The business has a fifty day moving average of $1.20 and a 200 day moving average of $1.32. The company has a quick ratio of 3.52, a current ratio of 4.16 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.08 billion, a P/E ratio of 63.50 and a beta of 2.25.

Olaplex (NASDAQ:OLPX) last issued its earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $114.58 million for the quarter, compared to analysts’ expectations of $109.77 million. Olaplex had a positive return on equity of 1.31% and a negative net margin of 1.18%.The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 earnings per share. On average, equities research analysts predict that Olaplex Holdings, Inc. will post 0.1 EPS for the current year.

Institutional Investors Weigh In On Olaplex

Several hedge funds have recently bought and sold shares of OLPX. R Squared Ltd bought a new stake in shares of Olaplex in the 2nd quarter valued at $25,000. Chilton Capital Management LLC bought a new stake in shares of Olaplex in the third quarter worth about $26,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Olaplex during the third quarter worth about $30,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Olaplex during the third quarter worth about $32,000. Finally, BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 14,507 shares in 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.