Olaplex (NASDAQ:OLPX) Sees Large Volume Increase After Analyst Upgrade

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares saw strong trading volume on Monday after Telsey Advisory Group raised their price target on the stock from $2.00 to $2.06. Telsey Advisory Group currently has a market perform rating on the stock. 3,209,151 shares changed hands during trading, a decline of 14% from the previous session’s volume of 3,731,433 shares.The stock last traded at $2.0150 and had previously closed at $2.02.

Several other analysts have also issued reports on OLPX. Zacks Research upgraded Olaplex from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Wall Street Zen upgraded Olaplex from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Morgan Stanley set a $1.40 price objective on Olaplex in a research note on Tuesday, March 10th. Jefferies Financial Group reissued a “buy” rating on shares of Olaplex in a report on Wednesday, March 4th. Finally, Barclays set a $1.75 target price on shares of Olaplex in a research note on Friday, January 16th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $1.89.

Insider Activity at Olaplex

In other Olaplex news, insider Trisha L. Fox sold 25,421 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 $32,030.46. Following the sale, the insider owned 1,080,363 shares in the company, valued at $1,361,257.38. This represents 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 link. Also, CFO Catherine Dunleavy sold 93,809 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were 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 approximately $3,813,875.10. The trade was a 3.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 215,442 shares of company stock worth $271,457. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Olaplex

Large investors have recently added to or reduced their stakes in the business. Portolan Capital Management LLC boosted its position in Olaplex by 132.6% during the third quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock worth $4,762,000 after purchasing an additional 2,072,383 shares during the period. Headlands Technologies LLC bought a new position in shares of Olaplex in the fourth quarter valued at about $25,000. R Squared Ltd raised its position in shares of Olaplex by 188.1% in the fourth quarter. R Squared Ltd now owns 38,370 shares of the company’s stock valued at $51,000 after purchasing an additional 25,051 shares during the period. Ninety One UK Ltd lifted its stake in shares of Olaplex by 4.1% during the 4th quarter. Ninety One UK Ltd now owns 3,525,027 shares of the company’s stock worth $4,724,000 after buying an additional 139,109 shares during the last quarter. Finally, Savant Capital LLC bought a new stake in shares of Olaplex during the 3rd quarter worth about $43,000. Institutional investors own 87.37% of the company’s stock.

Olaplex Stock Down 0.2%

The firm has a market cap of $1.35 billion, a P/E ratio of -201.50 and a beta of 2.24. The firm’s fifty day moving average is $1.51 and its 200 day moving average is $1.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.00 and a current ratio of 4.58.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $105.12 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. As a group, equities research analysts anticipate that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

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.