Olaplex (NASDAQ:OLPX) Hits New 12-Month High – Here’s Why

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $2.04 and last traded at $2.0350, with a volume of 319817 shares. The stock had previously closed at $2.04.

Analyst Ratings Changes

A number of research firms have weighed in on OLPX. Northland Securities downgraded Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Evercore set a $2.50 target price on shares of Olaplex in a research note on Friday, March 6th. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a report on Tuesday, April 21st. Jefferies Financial Group reiterated a “buy” rating on shares of Olaplex in a research note on Wednesday, March 4th. Finally, Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $1.92.

Olaplex Price Performance

The business has a fifty day moving average of $1.70 and a two-hundred day moving average of $1.45. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -203.50 and a beta of 2.01. 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 data on Thursday, March 5th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $105.12 million during 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 company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share. As a group, research analysts predict that Olaplex Holdings, Inc. will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel John C. Duffy sold 34,962 shares of the stock in a transaction 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 sale, the general counsel directly owned 982,855 shares of the company’s stock, valued at approximately $1,238,397.30. This represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Catherine Dunleavy sold 93,809 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer owned 3,026,885 shares in the company, 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. Insiders have sold 215,442 shares of company stock valued at $271,457 over the last 90 days. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Olaplex

Several institutional investors and hedge funds have recently bought and sold shares of OLPX. Headlands Technologies LLC acquired a new stake in Olaplex during the fourth quarter worth about $25,000. Chilton Capital Management LLC acquired a new position in shares of Olaplex in the 3rd quarter valued at approximately $26,000. Abel Hall LLC bought a new stake in shares of Olaplex during the 4th quarter worth approximately $27,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Olaplex during the 3rd quarter worth approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Olaplex during the 3rd quarter worth approximately $32,000. Institutional investors 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.