Olaplex (NASDAQ:OLPX) Announces Quarterly Earnings Results

Olaplex (NASDAQ:OLPX) posted its earnings results on Monday. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01, Briefing.com reports. The company had revenue of $99.37 million for the quarter, compared to analyst estimates of $94.11 million. Olaplex had a positive return on equity of 2.22% and a negative net margin of 3.53%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year.

Olaplex Trading Down 0.2%

Shares of NASDAQ OLPX traded down $0.01 during trading on Wednesday, hitting $2.04. 2,903,205 shares of the company traded hands, compared to its average volume of 3,830,596. Olaplex has a 1 year low of $0.99 and a 1 year high of $2.04. The company has a 50-day moving average price of $1.79 and a 200-day moving average price of $1.51. The firm has a market capitalization of $1.37 billion, a P/E ratio of -101.75 and a beta of 1.87. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 0.40.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Northland Securities lowered Olaplex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Evercore set a $2.50 target price on Olaplex in a report on Friday, March 6th. Wall Street Zen raised Olaplex from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Jefferies Financial Group reissued a “buy” rating on shares of Olaplex in a report on Wednesday, March 4th. Finally, Canaccord Genuity Group lowered Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $1.92.

Insider Activity

In other news, CFO Catherine Dunleavy sold 93,809 shares of the business’s 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 directly owned 3,026,885 shares of the company’s stock, valued at $3,813,875.10. The trade was a 3.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Trisha L. Fox sold 25,421 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $32,030.46. Following the sale, the insider directly owned 1,080,363 shares of the company’s stock, valued at $1,361,257.38. This represents a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 215,442 shares of company stock valued at $271,457 in the last ninety days. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Several hedge funds and other institutional investors have recently made changes to their positions in OLPX. Russell Investments Group Ltd. lifted its holdings 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 valued at $2,559,000 after acquiring an additional 1,413,423 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings 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 valued at $2,111,000 after acquiring an additional 1,401,369 shares in the last quarter. Archon Capital Management LLC lifted its holdings 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 valued at $5,986,000 after acquiring an additional 1,284,557 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Olaplex by 56.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 2,629,139 shares of the company’s stock valued at $3,681,000 after acquiring an additional 946,265 shares in the last quarter. Finally, Fund 1 Investments LLC acquired a new position in shares of Olaplex during the 4th quarter valued at $1,023,000. Institutional investors and hedge funds own 87.37% of the company’s stock.

About Olaplex

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.