Olaplex (NASDAQ:OLPX) Posts Earnings Results

Olaplex (NASDAQ:OLPX) posted its earnings results on Monday. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01, Briefing.com reports. Olaplex had a positive return on equity of 1.07% and a negative net margin of 2.19%.The firm had revenue of $99.37 million for the quarter, compared to the consensus estimate of $94.11 million. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year.

Olaplex Stock Down 0.2%

Shares of OLPX traded down $0.01 during mid-day trading on Monday, reaching $2.04. The company had a trading volume of 3,000,219 shares, compared to its average volume of 3,808,067. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.00 and a current ratio of 4.58. The firm has a 50-day moving average price of $1.76 and a 200 day moving average price of $1.49. Olaplex has a 52 week low of $0.99 and a 52 week high of $2.04. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -203.50 and a beta of 1.87.

Insider Activity at Olaplex

In related news, General Counsel John C. Duffy sold 34,962 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $44,052.12. Following the transaction, the general counsel directly owned 982,855 shares of the company’s stock, valued at approximately $1,238,397.30. This represents a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Catherine Dunleavy sold 93,809 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total value of $118,199.34. Following the completion of the transaction, the chief financial officer directly owned 3,026,885 shares in the company, valued at $3,813,875.10. This trade represents a 3.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 215,442 shares of company stock valued at $271,457. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olaplex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Archon Capital Management LLC lifted its position in Olaplex by 40.4% in 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. Geode Capital Management LLC lifted its position in Olaplex by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 3,865,034 shares of the company’s stock valued at $5,180,000 after acquiring an additional 106,048 shares in the last quarter. State Street Corp lifted its position in Olaplex by 3.5% in the 4th quarter. State Street Corp now owns 3,059,988 shares of the company’s stock valued at $4,100,000 after acquiring an additional 103,875 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in Olaplex by 2.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 2,684,791 shares of the company’s stock valued at $3,517,000 after acquiring an additional 55,652 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Olaplex by 284.7% in 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. 87.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OLPX has been the topic of a number of research analyst reports. Wall Street Zen upgraded 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 research report on Wednesday, March 4th. Zacks Research cut Olaplex from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Telsey Advisory Group boosted their price target 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, Morgan Stanley set a $1.40 price target on Olaplex in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Olaplex has an average rating of “Reduce” and an average price target of $1.92.

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.