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

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price gapped up before the market opened 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 traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on OLPX shares. Truist Financial cut their target price on Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a 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 research note on Friday, April 26th. Finally, Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $1.25 to $2.00 in a research report on Tuesday, March 19th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.59.

Olaplex Stock Performance

The stock has a market cap of $919.29 million, a P/E ratio of 15.45 and a beta of 2.28. The firm has a 50 day moving average of $1.71 and a two-hundred day moving average of $1.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.21 and a current ratio of 10.92.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OLPX. 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. Quent Capital LLC lifted its position in shares of Olaplex by 2,463.8% in the 4th quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock worth $28,000 after acquiring an additional 10,742 shares during the period. HB Wealth Management LLC acquired a new stake in shares of Olaplex during the 4th quarter worth approximately $35,000. M&T Bank Corp bought a new stake in shares of Olaplex during the third quarter valued at approximately $36,000. Finally, Waldron Private Wealth LLC increased its position in shares of Olaplex by 62.0% during the fourth quarter. Waldron Private Wealth LLC now owns 16,227 shares of the company’s stock valued at $41,000 after purchasing an additional 6,213 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.