Olaplex (NASDAQ:OLPX) Hits New 1-Year High – What’s Next?

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares reached a new 52-week high on Monday . The stock traded as high as $2.04 and last traded at $2.0350, with a volume of 79657 shares traded. The stock had previously closed at $2.03.

Analyst Ratings Changes

OLPX has been the topic of several analyst reports. Telsey Advisory Group increased their target price on shares of Olaplex from $2.00 to $2.06 and gave the stock a “market perform” rating in a report on Friday, March 27th. Northland Securities lowered shares of Olaplex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Evercore set a $2.50 price objective on shares of Olaplex in a report on Friday, March 6th. Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen upgraded shares of Olaplex from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $1.92.

Olaplex Stock Performance

The stock’s 50-day moving average price is $1.81 and its 200 day moving average price is $1.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 6.27 and a quick ratio of 5.34. The firm has a market cap of $1.37 billion, a P/E ratio of -101.75 and a beta of 1.87.

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

Insider Buying and Selling at Olaplex

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 Olaplex stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $118,199.34. Following the completion of the sale, the chief financial officer owned 3,026,885 shares in the company, valued at $3,813,875.10. The trade was a 3.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 215,442 shares of company stock worth $271,457. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Olaplex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Portolan Capital Management LLC increased its stake in shares of Olaplex by 132.6% during the 3rd quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock worth $4,762,000 after purchasing an additional 2,072,383 shares during the last quarter. PSquared Asset Management AG acquired a new position in shares of Olaplex during the 1st quarter worth about $2,874,000. Russell Investments Group Ltd. increased its stake in shares of Olaplex by 284.7% during the 4th 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 last quarter. Balyasny Asset Management L.P. increased its stake in shares of Olaplex by 1,314.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,508,013 shares of the company’s stock worth $2,111,000 after purchasing an additional 1,401,369 shares during the last quarter. Finally, Archon Capital Management LLC increased its stake in shares of Olaplex by 40.4% during the 4th quarter. Archon Capital Management LLC now owns 4,466,876 shares of the company’s stock worth $5,986,000 after purchasing an additional 1,284,557 shares during 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.