Olaplex Holdings, Inc. (NASDAQ:OLPX – Get Free Report) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 8,060,000 shares, a decline of 16.0% from the October 15th total of 9,590,000 shares. Based on an average daily volume of 2,530,000 shares, the short-interest ratio is currently 3.2 days. Currently, 6.3% of the shares of the company are short sold.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Olaplex by 13,198.8% in the 1st quarter. JPMorgan Chase & Co. now owns 227,276 shares of the company’s stock worth $3,551,000 after purchasing an additional 225,567 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Olaplex in the 1st quarter worth $158,000. Citigroup Inc. lifted its stake in Olaplex by 179.3% in the 1st quarter. Citigroup Inc. now owns 43,136 shares of the company’s stock worth $674,000 after purchasing an additional 27,690 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Olaplex in the 1st quarter worth $36,000. Finally, Rhumbline Advisers lifted its stake in Olaplex by 2.4% in the 1st quarter. Rhumbline Advisers now owns 62,830 shares of the company’s stock worth $982,000 after purchasing an additional 1,456 shares in the last quarter. Institutional investors own 90.87% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on OLPX. Piper Sandler downgraded shares of Olaplex from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $3.00 to $2.00 in a research report on Friday, August 25th. The Goldman Sachs Group cut their target price on shares of Olaplex from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, August 9th. Morgan Stanley cut their price objective on shares of Olaplex from $3.65 to $2.10 and set an “equal weight” rating for the company in a research report on Thursday. Canaccord Genuity Group reissued a “hold” rating and set a $3.00 price objective (down previously from $5.00) on shares of Olaplex in a research report on Friday, August 11th. Finally, Barclays raised shares of Olaplex from an “underweight” rating to an “equal weight” rating and set a $2.00 price objective for the company in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.62.
Olaplex Trading Up 6.7 %
Shares of Olaplex stock opened at $1.74 on Monday. The company has a market capitalization of $1.14 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.11 and a beta of 1.85. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.22 and a current ratio of 10.69. The company has a fifty day moving average of $1.88 and a 200 day moving average of $2.90. Olaplex has a fifty-two week low of $1.35 and a fifty-two week high of $7.10.
Olaplex (NASDAQ:OLPX – Get Free Report) last issued its earnings results on Tuesday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $123.60 million during the quarter, compared to the consensus estimate of $115.98 million. Olaplex had a net margin of 17.00% and a return on equity of 16.55%. Olaplex’s quarterly revenue was down 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. On average, sell-side analysts anticipate that Olaplex will post 0.15 earnings per share for the current fiscal year.
Olaplex Holdings, Inc develops, manufactures, and sells hair care products. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.
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