Olaplex (NASDAQ:OLPX) Sees Large Volume Increase – What’s Next?

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares saw unusually-strong trading volume on Thursday . Approximately 3,011,124 shares traded hands during mid-day trading, a decline of 25% from the previous session’s volume of 4,021,937 shares.The stock last traded at $2.0350 and had previously closed at $2.04.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OLPX. Evercore set a $2.50 price target on shares of Olaplex in a research note on Friday, March 6th. Jefferies Financial Group restated a “buy” rating on shares of Olaplex in a research report on Wednesday, March 4th. Wall Street Zen raised Olaplex from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Telsey Advisory Group boosted their target price on Olaplex from $2.00 to $2.06 and gave the stock a “market perform” rating in a research report on Friday, March 27th. Finally, Morgan Stanley set a $1.40 target price on Olaplex in a research note on Tuesday, March 10th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $1.92.

Olaplex Stock Down 0.5%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.00 and a current ratio of 4.58. The company has a market capitalization of $1.36 billion, a PE ratio of -203.00 and a beta of 2.01. The firm’s 50-day simple moving average is $1.65 and its 200 day simple moving average is $1.42.

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

Insider Buying and Selling at Olaplex

In related news, General Counsel John C. Duffy sold 34,962 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $44,052.12. Following the sale, the general counsel owned 982,855 shares in the company, valued at $1,238,397.30. This represents a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Catherine Dunleavy sold 93,809 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $118,199.34. Following the completion of the sale, the chief financial officer owned 3,026,885 shares in the company, valued at approximately $3,813,875.10. This represents a 3.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 215,442 shares of company stock valued at $271,457. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning grew its holdings in Olaplex by 35.0% in the second quarter. Creative Planning now owns 37,357 shares of the company’s stock valued at $52,000 after purchasing an additional 9,690 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Olaplex by 15.8% in the third quarter. Intech Investment Management LLC now owns 74,780 shares of the company’s stock valued at $98,000 after buying an additional 10,192 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Olaplex by 27.4% during the 3rd quarter. Arizona State Retirement System now owns 49,263 shares of the company’s stock worth $65,000 after buying an additional 10,609 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Olaplex by 95.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock worth $39,000 after buying an additional 14,507 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Olaplex in the 4th quarter worth about $25,000. 87.37% of the stock is owned by institutional investors and hedge funds.

About Olaplex

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.