Olaplex (NASDAQ:OLPX) Trading 4.8% Higher

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) were up 4.8% on Wednesday . The stock traded as high as $1.34 and last traded at $1.32. Approximately 501,569 shares were traded during trading, a decline of 75% from the average daily volume of 2,038,436 shares. The stock had previously closed at $1.26.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on OLPX shares. Truist Financial dropped their price objective on Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a research report on Friday, April 5th. Finally, Piper Sandler upgraded Olaplex from an “underweight” rating to a “neutral” rating and increased their target price for the company from $1.25 to $2.00 in a research report on Tuesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.59.

Olaplex Stock Down 2.2 %

The firm has a 50 day moving average of $1.74 and a 200 day moving average of $1.97. The firm has a market cap of $873.00 million, a price-to-earnings ratio of 14.67 and a beta of 2.28. The company has a quick ratio of 9.21, a current ratio of 10.92 and a debt-to-equity ratio of 0.77.

Olaplex (NASDAQ:OLPX) last released 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 return on equity of 13.09% and a net margin of 13.44%. The business had revenue of $111.72 million during the quarter, compared to analysts’ expectations of $108.29 million. During the same quarter last year, the firm posted $0.07 earnings per share. The firm’s revenue was down 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Olaplex

Large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new stake in Olaplex in the fourth quarter valued at approximately $3,996,000. Pacer Advisors Inc. grew its stake in Olaplex by 34.8% in the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock valued at $20,911,000 after acquiring an additional 2,124,323 shares during the period. Vanguard Group Inc. grew its stake in Olaplex by 8.9% in the third quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock valued at $18,796,000 after acquiring an additional 787,242 shares during the period. Dark Forest Capital Management LP acquired a new stake in Olaplex in the third quarter valued at approximately $82,000. Finally, Quadrature Capital Ltd grew its stake in Olaplex by 34.6% in the third quarter. Quadrature Capital Ltd now owns 74,057 shares of the company’s stock valued at $145,000 after acquiring an additional 19,019 shares during the period. Institutional investors and hedge funds 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.