Olaplex (NASDAQ:OLPX) Shares Gap Up to $1.48

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) gapped up before the market opened on Thursday . The stock had previously closed at $1.48, but opened at $1.52. Olaplex shares last traded at $1.57, with a volume of 136,725 shares changing hands.

Analysts Set New Price Targets

A number of research firms have issued reports on OLPX. Truist Financial lowered their price target on Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $1.25 to $2.00 in a research report on Tuesday, March 19th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a research report on Friday, April 5th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.59.

Olaplex Price Performance

The stock has a market cap of $951.49 million, a PE ratio of 16.00 and a beta of 2.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 10.92 and a quick ratio of 9.21. The business has a fifty day moving average of $1.90 and a 200 day moving average of $2.01.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $111.72 million during the quarter, compared to the consensus estimate of $108.29 million. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. Olaplex’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share. Sell-side analysts anticipate that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OLPX. Oak Thistle LLC purchased a new position in Olaplex in the third quarter valued at about $25,000. Quadrant Capital Group LLC raised its stake in Olaplex by 2,108.4% during the fourth quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock valued at $26,000 after buying an additional 9,593 shares in the last quarter. Townsquare Capital LLC acquired a new stake in Olaplex during the fourth quarter valued at approximately $26,000. American International Group Inc. raised its stake in Olaplex by 98.6% during the second quarter. American International Group Inc. now owns 1,940 shares of the company’s stock valued at $27,000 after buying an additional 963 shares in the last quarter. Finally, Quent Capital LLC raised its stake in Olaplex by 2,463.8% during the fourth quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock valued at $28,000 after buying an additional 10,742 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

About Olaplex

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.