Olaplex (NASDAQ:OLPX) Shares Gap Up to $1.34

Olaplex Holdings, Inc. (NASDAQ:OLPX) gapped up prior to trading on Monday . The stock had previously closed at $1.34, but opened at $1.40. Olaplex shares last traded at $1.38, with a volume of 93,985 shares changing hands.

Analyst Upgrades and Downgrades

OLPX has been the subject of a number of recent research reports. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a research note on Friday. Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $1.25 to $2.00 in a research note on Tuesday, March 19th. Finally, Truist Financial lowered their target price on Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.59.

Olaplex Price Performance

The firm has a market capitalization of $915.98 million, a P/E ratio of 14.89 and a beta of 2.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.21 and a current ratio of 10.92. The firm has a 50-day moving average of $1.73 and a 200-day moving average of $1.97.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $111.72 million for the quarter, compared to analysts’ expectations of $108.29 million. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. The firm’s quarterly revenue was down 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS. As a group, analysts predict that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Olaplex

A number of institutional investors have recently bought and sold shares of OLPX. Oak Thistle LLC bought a new stake in Olaplex in the third quarter worth about $25,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Olaplex by 99.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,895 shares of the company’s stock valued at $80,000 after acquiring an additional 20,383 shares during the period. Panagora Asset Management Inc. boosted its holdings in Olaplex by 579.2% in the third quarter. Panagora Asset Management Inc. now owns 296,499 shares of the company’s stock valued at $578,000 after purchasing an additional 252,848 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Olaplex during the 3rd quarter worth about $36,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Olaplex by 311.7% during the 3rd quarter. Victory Capital Management Inc. now owns 55,598 shares of the company’s stock worth $108,000 after acquiring an additional 42,093 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

About Olaplex

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.