ODDITY Tech Target of Unusually High Options Trading (NASDAQ:ODD)

ODDITY Tech Ltd. (NASDAQ:ODD) was the target of unusually large options trading on Wednesday. Stock traders bought 9,433 call options on the stock. This is an increase of approximately 376% compared to the average daily volume of 1,981 call options.

Wall Street Analysts Forecast Growth

ODD has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Truist Financial cut their target price on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, June 3rd. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a report on Tuesday, June 2nd. Zacks Research downgraded shares of ODDITY Tech from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, Morgan Stanley dropped their price objective on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, ODDITY Tech currently has an average rating of “Reduce” and an average price target of $25.39.

ODDITY Tech Stock Up 10.6%

ODD stock traded up $1.61 during midday trading on Wednesday, reaching $16.74. 915,598 shares of the company’s stock traded hands, compared to its average volume of 1,929,879. The company has a market cap of $963.95 million, a price-to-earnings ratio of 21.19 and a beta of 2.47. The firm’s fifty day moving average price is $13.02 and its 200-day moving average price is $21.85. The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96. ODDITY Tech has a 52 week low of $9.25 and a 52 week high of $77.83.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The business’s revenue for the quarter was down 26.2% on a year-over-year basis. As a group, sell-side analysts forecast that ODDITY Tech will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 109,602 shares of ODDITY Tech stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total value of $1,653,894.18. Following the completion of the sale, the chief financial officer directly owned 77,709 shares in the company, valued at approximately $1,172,628.81. The trade was a 58.51% decrease in their ownership of the stock. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 128,805 shares of company stock worth $1,932,910 over the last ninety days.

Hedge Funds Weigh In On ODDITY Tech

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Avidity Partners Management LP bought a new stake in ODDITY Tech in the first quarter worth about $937,000. Segall Bryant & Hamill LLC purchased a new stake in shares of ODDITY Tech during the 1st quarter worth approximately $488,000. Amundi increased its stake in shares of ODDITY Tech by 17.8% during the 1st quarter. Amundi now owns 434,945 shares of the company’s stock worth $5,820,000 after purchasing an additional 65,647 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of ODDITY Tech in the 1st quarter worth approximately $1,275,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of ODDITY Tech in the 1st quarter worth approximately $405,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

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.