Olaplex (NASDAQ:OLPX) Shares Gap Up to $1.71

Olaplex Holdings, Inc. (NASDAQ:OLPXGet Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $1.71, but opened at $1.75. Olaplex shares last traded at $1.79, with a volume of 368,723 shares.

Analyst Ratings Changes

OLPX has been the topic of a number of recent research reports. Truist Financial lowered their target price on Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a report on Thursday, February 29th. Finally, Piper Sandler upgraded shares of Olaplex from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $1.25 to $2.00 in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $2.59.

Check Out Our Latest Research Report on Olaplex

Olaplex Stock Performance

The stock has a market capitalization of $1.23 billion, a P/E ratio of 20.67 and a beta of 2.27. The stock’s 50-day simple moving average is $2.10 and its 200 day simple moving average is $2.08. The company has a debt-to-equity ratio of 0.77, a current ratio of 10.92 and a quick ratio of 9.21.

Olaplex (NASDAQ:OLPXGet Free Report) last announced its earnings results on Thursday, February 29th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The business had revenue of $111.72 million during the quarter, compared to the consensus estimate of $108.29 million. During the same quarter in the previous year, the firm posted $0.07 EPS. Olaplex’s revenue was down 14.5% compared to the same quarter last year. Research analysts expect that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Olaplex

Several institutional investors and hedge funds have recently modified their holdings of the business. Oak Thistle LLC bought a new stake in Olaplex in the 3rd quarter valued at about $25,000. Quadrant Capital Group LLC grew its position in Olaplex by 2,108.4% during the fourth quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock worth $26,000 after buying an additional 9,593 shares in the last quarter. Townsquare Capital LLC bought a new position in Olaplex during the 4th quarter worth $26,000. American International Group Inc. raised its holdings in Olaplex by 98.6% in the 2nd quarter. American International Group Inc. now owns 1,940 shares of the company’s stock valued at $27,000 after acquiring an additional 963 shares in the last quarter. Finally, Quent Capital LLC raised its holdings in Olaplex by 2,463.8% in the 4th quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock valued at $28,000 after acquiring an additional 10,742 shares in the last quarter. 90.87% of the stock is currently owned by institutional investors and hedge funds.

Olaplex Company Profile

(Get Free Report)

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

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