Olaplex (NASDAQ:OLPX) Shares Up 5.9% – Time to Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price traded up 5.9% during trading on Monday . The stock traded as high as $1.56 and last traded at $1.54. 792,218 shares changed hands during trading, a decline of 62% from the average session volume of 2,072,582 shares. The stock had previously closed at $1.45.

Analyst Upgrades and Downgrades

OLPX has been the topic of several recent research reports. Barclays lifted their price objective on shares of Olaplex from $1.20 to $1.40 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Wall Street Zen lowered shares of Olaplex from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, Olaplex currently has an average rating of “Hold” and a consensus price target of $1.85.

Olaplex Trading Up 5.9%

The firm has a market capitalization of $1.02 billion, a P/E ratio of 76.79 and a beta of 2.33. The business’s 50 day moving average is $1.30 and its two-hundred day moving average is $1.45. The company has a quick ratio of 9.53, a current ratio of 10.74 and a debt-to-equity ratio of 0.73.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.02). The company had revenue of $96.98 million for the quarter, compared to the consensus estimate of $93.82 million. Olaplex had a return on equity of 6.36% and a net margin of 2.91%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. Analysts expect that Olaplex Holdings, Inc. will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Olaplex

Hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas acquired a new stake in Olaplex during the 1st quarter worth about $25,000. Hsbc Holdings PLC purchased a new position in shares of Olaplex in the fourth quarter worth approximately $34,000. BNP Paribas Financial Markets acquired a new stake in shares of Olaplex during the fourth quarter valued at approximately $35,000. Parkside Financial Bank & Trust lifted its position in shares of Olaplex by 290.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company’s stock valued at $37,000 after acquiring an additional 15,911 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Olaplex in the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 87.37% of the company’s stock.

Olaplex Company Profile

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.