ODDITY Tech (NASDAQ:ODD) Trading 9.6% Higher – Here’s What Happened

ODDITY Tech Ltd. (NASDAQ:ODD)’s stock price shot up 9.6% during trading on Thursday . The stock traded as high as $12.01 and last traded at $12.0210. 168,030 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,898,385 shares. The stock had previously closed at $10.97.

Analyst Upgrades and Downgrades

Several research firms have commented on ODD. Citizens Jmp lowered shares of ODDITY Tech from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. The Goldman Sachs Group lowered shares of ODDITY Tech from a “hold” rating to a “sell” rating and lowered their price target for the company from $16.00 to $8.00 in a report on Wednesday, June 3rd. Barclays lowered their price target on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.25 price target on shares of ODDITY Tech in a report on Tuesday, June 2nd. Finally, Evercore lowered shares of ODDITY Tech from an “outperform” rating to an “in-line” rating and set a $23.00 price target on the stock. in a report on Thursday, February 26th. Nine investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $25.39.

ODDITY Tech Stock Performance

The business’s 50-day simple moving average is $13.24 and its two-hundred day simple moving average is $23.78. The firm has a market cap of $738.52 million, a price-to-earnings ratio of 16.29 and a beta of 2.47. The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The firm had revenue of $197.94 million during the quarter, compared to analyst estimates of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company’s revenue was down 26.2% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS. As a group, sell-side analysts expect that ODDITY Tech Ltd. will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at ODDITY Tech

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 9,604 shares of the company’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $12.85, for a total value of $123,411.40. Following the completion of the transaction, the chief financial officer owned 49,054 shares in the company, valued at approximately $630,343.90. This represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 28,807 shares of company stock valued at $402,428 in the last three months.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wexford Capital LP acquired a new position in shares of ODDITY Tech during the 3rd quarter worth about $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ODDITY Tech by 134.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after purchasing an additional 651 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of ODDITY Tech during the 2nd quarter worth about $71,000. SG Americas Securities LLC acquired a new position in shares of ODDITY Tech during the 1st quarter worth about $104,000. Finally, Headlands Technologies LLC acquired a new position in shares of ODDITY Tech during the 2nd quarter worth about $108,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

ODDITY Tech Company Profile

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.