Olaplex (NASDAQ:OLPX) Reaches New 12-Month High – Still a Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $2.06 and last traded at $2.05, with a volume of 6757748 shares. The stock had previously closed at $2.06.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OLPX. Weiss Ratings reissued a “sell (d)” rating on shares of Olaplex in a research note on Tuesday, April 21st. Zacks Research raised Olaplex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded Olaplex from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Evercore set a $2.50 price target on Olaplex in a research report on Friday, March 6th. Finally, Telsey Advisory Group increased their price objective on Olaplex from $2.00 to $2.06 and gave the stock a “market perform” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $1.92.

Olaplex Price Performance

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 stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -102.50 and a beta of 1.86. The stock’s 50 day simple moving average is $2.04 and its 200-day simple moving average is $1.72.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $99.37 million for the quarter, compared to analyst estimates of $94.11 million. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that Olaplex Holdings, Inc. will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Olaplex news, insider Trisha L. Fox sold 16,324 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $2.04, for a total transaction of $33,300.96. Following the transaction, the insider directly owned 1,064,039 shares in the company, valued at $2,170,639.56. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Carmignac Gestion bought a new position in shares of Olaplex in the 1st quarter valued at approximately $1,732,000. Optiver Holding B.V. boosted its position in Olaplex by 999.5% during the first quarter. Optiver Holding B.V. now owns 24,123 shares of the company’s stock worth $49,000 after purchasing an additional 21,929 shares during the period. Groupe la Francaise bought a new stake in Olaplex during the first quarter worth approximately $1,484,000. Gabelli Funds LLC acquired a new position in Olaplex during the first quarter valued at approximately $998,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Olaplex during the first quarter valued at approximately $954,000. 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.