Olaplex (NASDAQ:OLPX) Sets New 12-Month High – Here’s Why

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $2.04 and last traded at $2.04, with a volume of 5466559 shares traded. The stock had previously closed at $2.02.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OLPX shares. Barclays lifted 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. Telsey Advisory Group raised their price target on Olaplex from $2.00 to $2.06 and gave the company a “market perform” rating in a report on Friday, March 27th. Canaccord Genuity Group lowered Olaplex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Jefferies Financial Group reissued a “buy” rating on shares of Olaplex in a report on Wednesday, March 4th. Finally, Morgan Stanley set a $1.40 target price on shares of Olaplex in a research report on Tuesday, March 10th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $1.92.

Olaplex Stock Up 1.0%

The business’s fifty day simple moving average is $1.62 and its 200 day simple moving average is $1.41. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -204.00 and a beta of 2.01. The company has a current ratio of 4.58, a quick ratio of 4.00 and a debt-to-equity ratio of 0.40.

Olaplex (NASDAQ:OLPX) last posted its earnings results on Thursday, March 5th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $105.12 million during the quarter, compared to analyst estimates of $104.21 million. Olaplex had a positive return on equity of 1.07% and a negative net margin of 2.19%.The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS. Equities analysts forecast that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Activity

In other Olaplex news, General Counsel John C. Duffy sold 34,962 shares of Olaplex stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total value of $44,052.12. Following the sale, the general counsel directly owned 982,855 shares in the company, valued at approximately $1,238,397.30. The trade was a 3.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Catherine Dunleavy sold 93,809 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total value of $118,199.34. Following the transaction, the chief financial officer directly owned 3,026,885 shares of the company’s stock, valued at $3,813,875.10. This trade represents a 3.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 215,442 shares of company stock worth $271,457 over the last quarter. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Olaplex

A number of institutional investors and hedge funds have recently made changes to their positions in OLPX. Fund 1 Investments LLC acquired a new stake in Olaplex in the fourth quarter valued at $1,023,000. Abel Hall LLC acquired a new stake in Olaplex in the 4th quarter valued at about $27,000. Jump Financial LLC lifted its stake in Olaplex by 193.7% in the 4th quarter. Jump Financial LLC now owns 29,800 shares of the company’s stock valued at $40,000 after purchasing an additional 19,653 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Olaplex by 284.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,909,836 shares of the company’s stock worth $2,559,000 after purchasing an additional 1,413,423 shares during the period. Finally, Barclays PLC increased its position in Olaplex by 9.5% during the fourth quarter. Barclays PLC now owns 245,088 shares of the company’s stock worth $328,000 after buying an additional 21,292 shares during the last quarter. Institutional investors 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.