Olaplex (NASDAQ:OLPX) Reaches New 12-Month High – What’s Next?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $1.8387 and last traded at $1.6550, with a volume of 4812228 shares. The stock had previously closed at $1.35.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OLPX. Northland Securities initiated coverage on Olaplex in a report on Thursday, November 20th. They set an “outperform” rating and a $2.00 target price on the stock. Wall Street Zen downgraded Olaplex from a “hold” rating to a “sell” rating in a research note on Saturday, November 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a research note on Wednesday, October 8th. Northland Capmk raised Olaplex to a “strong-buy” rating in a report on Thursday, November 20th. Finally, Barclays lowered their target price on shares of Olaplex from $1.50 to $1.25 and set an “equal weight” rating on the stock in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $1.81.

Olaplex Price Performance

The company has a quick ratio of 3.52, a current ratio of 4.16 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 83.00 and a beta of 2.25. The business’s 50 day simple moving average is $1.22 and its 200-day simple moving average is $1.33.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $114.58 million during the quarter, compared to the consensus estimate of $109.77 million. Olaplex had a negative net margin of 1.18% and a positive return on equity of 1.31%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 EPS. On average, research analysts forecast that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Olaplex

A number of institutional investors have recently modified their holdings of OLPX. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Olaplex by 2,320.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 135,639 shares of the company’s stock worth $180,000 after acquiring an additional 130,035 shares during the last quarter. Bank of America Corp DE lifted its stake in Olaplex by 324.4% in the 3rd quarter. Bank of America Corp DE now owns 260,160 shares of the company’s stock valued at $341,000 after purchasing an additional 198,864 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Olaplex in the third quarter valued at approximately $30,000. Bridgeway Capital Management LLC boosted its position in Olaplex by 2.1% in the third quarter. Bridgeway Capital Management LLC now owns 2,684,791 shares of the company’s stock valued at $3,517,000 after buying an additional 55,652 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Olaplex by 1,521.9% in the 3rd quarter. Squarepoint Ops LLC now owns 168,553 shares of the company’s stock valued at $221,000 after acquiring an additional 158,161 shares during the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.

Olaplex Company Profile

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.