Olaplex (NASDAQ:OLPX) Reaches New 1-Year High – Here’s Why

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $2.06 and last traded at $2.0550, with a volume of 763088 shares traded. The stock had previously closed at $2.05.

Wall Street Analyst Weigh In

OLPX has been the subject of several research reports. Canaccord Genuity Group downgraded Olaplex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a research report on Tuesday, April 21st. Northland Securities downgraded Olaplex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Telsey Advisory Group lifted their price objective on Olaplex from $2.00 to $2.06 and gave the stock a “market perform” rating in a research report on Friday, March 27th. Finally, Evercore set a $2.50 price objective on Olaplex in a research report on Friday, March 6th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Olaplex currently has a consensus rating of “Hold” and a consensus price target of $1.92.

Olaplex Trading Up 0.2%

The business’s 50-day moving average is $2.04 and its two-hundred day moving average is $1.68. The company has a current ratio of 6.27, a quick ratio of 5.34 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.38 billion, a PE ratio of -102.75 and a beta of 1.86.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $99.37 million for the quarter, compared to analyst estimates of $94.11 million. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that Olaplex Holdings, Inc. will post 0.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Trisha L. Fox sold 16,324 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $2.04, for a total transaction of $33,300.96. Following the sale, the insider owned 1,064,039 shares in the company, valued at $2,170,639.56. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Olaplex

Institutional investors and hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new stake in Olaplex during the first quarter worth about $36,000. Headlands Technologies LLC acquired a new stake in Olaplex during the fourth quarter worth about $25,000. Abel Hall LLC acquired a new stake in Olaplex during the fourth quarter worth about $27,000. Schonfeld Strategic Advisors LLC acquired a new stake in Olaplex during the third quarter worth about $30,000. Finally, Optiver Holding B.V. grew its position in Olaplex by 999.5% in the 1st quarter. Optiver Holding B.V. now owns 24,123 shares of the company’s stock worth $49,000 after purchasing an additional 21,929 shares during the last quarter. Institutional investors and hedge funds 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.