Olaplex (NASDAQ:OLPX) Sees Large Volume Increase – Time to Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares saw an uptick in trading volume on Thursday . Approximately 4,330,734 shares were traded during trading, an increase of 5% from the previous session’s volume of 4,127,153 shares.The stock last traded at $2.0650 and had previously closed at $2.05.

Analysts Set New Price Targets

OLPX has been the subject of several research analyst reports. Northland Securities lowered Olaplex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Morgan Stanley set a $1.40 target price on Olaplex in a research note on Tuesday, March 10th. Canaccord Genuity Group downgraded Olaplex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Olaplex in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised Olaplex from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $1.92.

Olaplex Price Performance

The business has a 50-day moving average price of $2.04 and a two-hundred day moving average price of $1.74. The company has a quick ratio of 5.34, a current ratio of 6.27 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -103.25 and a beta of 1.84.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $99.37 million during the quarter, compared to the consensus estimate of $94.11 million. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. The business’s revenue was up 2.5% on a year-over-year basis. As a group, research analysts anticipate that Olaplex Holdings, Inc. will post 0.09 EPS for the current year.

Insider Activity

In other news, insider Trisha L. Fox sold 16,324 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $2.04, for a total transaction of $33,300.96. Following the completion of the sale, the insider directly owned 1,064,039 shares of the company’s stock, valued at $2,170,639.56. The trade was a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olaplex

Several large investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC acquired a new position in Olaplex during the 1st quarter valued at about $36,000. Headlands Technologies LLC bought a new position in shares of Olaplex in the fourth quarter valued at approximately $25,000. Abel Hall LLC bought a new position in shares of Olaplex in the fourth quarter valued at approximately $27,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Olaplex in the third quarter valued at approximately $30,000. Finally, Optiver Holding B.V. boosted its position in shares of Olaplex by 999.5% during the first quarter. Optiver Holding B.V. now owns 24,123 shares of the company’s stock valued at $49,000 after buying an additional 21,929 shares during the last quarter. 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.