ODDITY Tech (NASDAQ:ODD) Trading 4.5% Higher – Here’s What Happened

ODDITY Tech Ltd. (NASDAQ:ODD) shares rose 4.5% during trading on Wednesday . The company traded as high as $15.12 and last traded at $14.84. 131,181 shares changed hands during trading, a decline of 92% from the average daily volume of 1,660,141 shares. The stock had previously closed at $14.20.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Jefferies Financial Group reiterated a “hold” rating and issued a $10.25 price target on shares of ODDITY Tech in a report on Tuesday, June 2nd. Truist Financial dropped their target price on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, June 3rd. Barclays lowered their price target on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, June 3rd. Finally, Morgan Stanley dropped their price objective on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Nine analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Stock Performance

The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96. The company has a market cap of $863.12 million, a P/E ratio of 18.97 and a beta of 2.38. The stock has a 50 day moving average price of $14.91 and a two-hundred day moving average price of $15.25.

ODDITY Tech (NASDAQ:ODD) last announced its earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The business had revenue of $197.94 million during the quarter, compared to the consensus estimate of $187.87 million. During the same period in the previous year, the firm posted $0.69 EPS. The company’s revenue was down 26.2% compared to the same quarter last year. On average, research analysts predict that ODDITY Tech Ltd. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at ODDITY Tech

In other news, CFO Mann Lindsay Drucker sold 3,493 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $15.01, for a total transaction of $52,429.93. Following the sale, the chief financial officer directly owned 104,492 shares of the company’s stock, valued at approximately $1,568,424.92. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 134,171 shares of company stock worth $2,008,631.

Institutional Investors Weigh In On ODDITY Tech

A number of large investors have recently bought and sold shares of ODD. Wexford Capital LP acquired a new position in shares of ODDITY Tech in the 3rd quarter valued at approximately $40,000. Legal & General Group Plc acquired a new stake in shares of ODDITY Tech during the 2nd quarter worth approximately $71,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ODDITY Tech by 134.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after acquiring an additional 651 shares in the last quarter. Headlands Technologies LLC bought a new position in ODDITY Tech in the second quarter valued at approximately $108,000. Finally, Thrivent Financial for Lutherans bought a new position in ODDITY Tech in the second quarter valued at approximately $225,000. 35.88% of the stock is currently owned by institutional investors and hedge funds.

About ODDITY Tech

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.