Olaplex (NASDAQ:OLPX) Trading 6% Higher – What’s Next?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price was up 6% on Wednesday . The company traded as high as $1.35 and last traded at $1.3150. Approximately 1,511,857 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 1,756,412 shares. The stock had previously closed at $1.24.

Analyst Upgrades and Downgrades

Several research firms recently commented on OLPX. Barclays set a $1.75 price target on Olaplex in a research note on Friday, January 16th. Wall Street Zen raised shares of Olaplex from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Morgan Stanley set a $1.40 price objective on Olaplex in a report on Tuesday, March 10th. Zacks Research upgraded Olaplex from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $1.88.

Olaplex Trading Up 2.8%

The firm’s 50-day simple moving average is $1.54 and its 200 day simple moving average is $1.35. The stock has a market cap of $853.49 million, a P/E ratio of -128.50 and a beta of 2.24. The company has a current ratio of 4.58, a quick ratio of 4.00 and a debt-to-equity ratio of 0.40.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Olaplex had a positive return on equity of 1.07% and a negative net margin of 2.19%.The business had revenue of $105.12 million during the quarter, compared to analyst estimates of $104.21 million. During the same period in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current year.

Insider Activity

In related news, General Counsel John C. Duffy sold 34,962 shares of Olaplex stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $44,052.12. Following the sale, the general counsel directly owned 982,855 shares in the company, valued at $1,238,397.30. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Catherine Dunleavy sold 93,809 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $1.26, for a total transaction of $118,199.34. Following the sale, the chief financial officer 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 215,442 shares of company stock valued at $271,457. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OLPX. Headlands Technologies LLC bought a new stake in Olaplex in the fourth quarter worth about $25,000. Chilton Capital Management LLC bought a new stake in shares of Olaplex in the 3rd quarter worth approximately $26,000. Abel Hall LLC acquired a new stake in Olaplex during the fourth quarter valued at approximately $27,000. Schonfeld Strategic Advisors LLC bought a new stake in Olaplex during the third quarter worth approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Olaplex in the third quarter worth approximately $32,000. Institutional investors own 87.37% of the company’s stock.

Olaplex Company Profile

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.