Olaplex (NASDAQ:OLPX) Reaches New 12-Month High – Still a Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX) hit a new 52-week high during trading on Tuesday . The company traded as high as $2.05 and last traded at $2.04, with a volume of 122014 shares changing hands. The stock had previously closed at $2.05.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Telsey Advisory Group increased their price objective on Olaplex from $2.00 to $2.06 and gave the company a “market perform” rating in a report on Friday, March 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Olaplex in a report on Tuesday, April 21st. Morgan Stanley set a $1.40 price objective on Olaplex in a report on Tuesday, March 10th. Barclays increased their price objective on Olaplex from $1.75 to $2.00 and gave the company an “equal weight” rating in a report on Tuesday, April 14th. Finally, Wall Street Zen upgraded shares of Olaplex from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $1.92.

Olaplex Price Performance

The company has a current ratio of 6.27, a quick ratio of 5.34 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $1.90 and a 200-day simple moving average of $1.57. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -102.50 and a beta of 1.87.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $99.37 million for the quarter, compared to analyst estimates of $94.11 million. Olaplex had a positive return on equity of 2.23% and a negative net margin of 3.53%.The business’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts expect that Olaplex Holdings, Inc. will post 0.09 EPS for the current year.

Insider Activity at Olaplex

In other Olaplex news, insider Trisha L. Fox sold 25,421 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $1.26, for a total value of $32,030.46. Following the transaction, the insider directly owned 1,080,363 shares in the company, valued at $1,361,257.38. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $44,052.12. Following the transaction, the general counsel 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 215,442 shares of company stock valued at $271,457 in the last 90 days. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olaplex

Several large investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in Olaplex in the fourth quarter valued at approximately $25,000. Chilton Capital Management LLC acquired a new position in Olaplex in the third quarter valued at approximately $26,000. Abel Hall LLC acquired a new position in Olaplex in the fourth quarter valued at approximately $27,000. Schonfeld Strategic Advisors LLC acquired a new position in Olaplex in the third quarter valued at approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Olaplex in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 87.37% of the company’s stock.

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.