Olaplex Holdings, Inc. (NASDAQ:OLPX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) have been assigned a consensus rating of “Hold” from the seven analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $1.9229.

A number of research firms have weighed in on OLPX. Northland Securities downgraded Olaplex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Olaplex from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Canaccord Genuity Group cut shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Morgan Stanley set a $1.40 price objective on shares of Olaplex in a report on Tuesday, March 10th.

Olaplex Stock Performance

NASDAQ:OLPX opened at $2.07 on Friday. The company has a market cap of $1.39 billion, a PE ratio of -103.50 and a beta of 1.85. 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 company has a 50 day simple moving average of $2.04 and a two-hundred day simple moving average of $1.75. Olaplex has a 12 month low of $0.99 and a 12 month high of $2.09.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Monday, May 11th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. Olaplex had a positive return on equity of 2.23% and a negative net margin of 3.53%.The firm had revenue of $99.37 million for the quarter, compared to analysts’ expectations of $94.11 million. The firm’s revenue was up 2.5% compared to the same quarter last year. Research analysts forecast that Olaplex will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In other Olaplex news, insider Trisha L. Fox sold 16,324 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $2.04, for a total value of $33,300.96. Following the transaction, the insider directly owned 1,064,039 shares in the company, valued at approximately $2,170,639.56. This trade 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 accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Institutional investors have recently bought and sold shares of the stock. Archon Capital Management LLC lifted its position in Olaplex by 40.4% during the fourth quarter. Archon Capital Management LLC now owns 4,466,876 shares of the company’s stock valued at $5,986,000 after purchasing an additional 1,284,557 shares in the last quarter. Geode Capital Management LLC increased its position in Olaplex by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 3,865,034 shares of the company’s stock worth $5,180,000 after buying an additional 106,048 shares in the last quarter. Portolan Capital Management LLC raised its stake in shares of Olaplex by 132.6% in the third quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock worth $4,762,000 after buying an additional 2,072,383 shares during the period. Ninety One UK Ltd raised its stake in shares of Olaplex by 4.1% in the fourth quarter. Ninety One UK Ltd now owns 3,525,027 shares of the company’s stock worth $4,724,000 after buying an additional 139,109 shares during the period. Finally, State Street Corp lifted its position in shares of Olaplex by 3.5% during the 4th quarter. State Street Corp now owns 3,059,988 shares of the company’s stock valued at $4,100,000 after buying an additional 103,875 shares in the last quarter. 87.37% of the stock is owned by institutional investors.

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.