Olaplex (NASDAQ:OLPX) Shares Up 6% – Time to Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX) was up 6% during trading on Wednesday . The company traded as high as $1.35 and last traded at $1.3150. Approximately 1,511,857 shares changed hands during trading, a decline of 14% from the average daily volume of 1,756,412 shares. The stock had previously closed at $1.24.

Analyst Ratings Changes

Several analysts have commented on OLPX shares. Morgan Stanley set a $1.40 target price on shares of Olaplex in a research note on Tuesday, March 10th. Evercore set a $2.50 price objective on Olaplex in a report on Friday, March 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a research note on Thursday, January 22nd. Wall Street Zen raised Olaplex from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Zacks Research raised shares of Olaplex from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $1.88.

Olaplex Price Performance

The company has a 50 day simple moving average of $1.54 and a 200 day simple moving average of $1.35. The company has a market capitalization of $853.49 million, a price-to-earnings ratio of -128.50 and a beta of 2.24. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 0.40.

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

Insider Activity at Olaplex

In other news, General Counsel John C. Duffy sold 34,962 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $44,052.12. Following the completion of the sale, the general counsel owned 982,855 shares of the company’s stock, valued at $1,238,397.30. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Catherine Dunleavy sold 93,809 shares of the company’s stock in a transaction dated 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 directly owned 3,026,885 shares of the company’s stock, valued at $3,813,875.10. The trade was a 3.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 215,442 shares of company stock worth $271,457. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

A number of institutional investors and hedge funds have recently bought and sold shares of OLPX. Headlands Technologies LLC purchased a new stake in shares of Olaplex during the fourth quarter valued at approximately $25,000. Abel Hall LLC purchased a new position in shares of Olaplex in the fourth quarter valued at $27,000. Chilton Capital Management LLC acquired a new stake in Olaplex during the 3rd quarter valued at $26,000. Schonfeld Strategic Advisors LLC purchased a new stake in Olaplex during the 3rd quarter worth $30,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Olaplex during the 3rd quarter worth $32,000. Hedge funds and other institutional investors 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.