Olaplex (NASDAQ:OLPX) Trading Up 5.6% – Here’s Why

Olaplex Holdings, Inc. (NASDAQ:OLPX) was up 5.6% on Wednesday . The company traded as high as $1.44 and last traded at $1.4050. Approximately 333,254 shares traded hands during trading, a decline of 74% from the average daily volume of 1,259,912 shares. The stock had previously closed at $1.33.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OLPX. Wall Street Zen cut Olaplex from a “hold” rating to a “sell” rating in a research note on Saturday, November 29th. Northland Securities began coverage on shares of Olaplex in a research note on Thursday, November 20th. They set an “outperform” rating and a $2.00 price objective on the stock. Northland Capmk raised shares of Olaplex to a “strong-buy” rating in a research report on Thursday, November 20th. Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Barclays decreased their price target on Olaplex from $1.50 to $1.25 and set an “equal weight” rating for the company in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $1.85.

Olaplex Stock Up 6.0%

The stock’s fifty day simple moving average is $1.16 and its two-hundred day simple moving average is $1.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.16 and a quick ratio of 3.52. The company has a market capitalization of $941.19 million, a price-to-earnings ratio of 70.50 and a beta of 2.28.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $114.58 million during the quarter, compared to the consensus estimate of $109.77 million. Olaplex had a negative net margin of 1.18% and a positive return on equity of 1.31%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.04 EPS. On average, sell-side analysts predict that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in Olaplex in the second quarter worth $25,000. Chilton Capital Management LLC bought a new position in shares of Olaplex during the third quarter worth about $26,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Olaplex in the 3rd quarter worth about $30,000. Wealth Enhancement Advisory Services LLC bought a new stake in Olaplex in the 3rd quarter valued at about $32,000. Finally, BNP Paribas Financial Markets boosted its stake in Olaplex by 95.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock valued at $39,000 after purchasing an additional 14,507 shares during the period. Institutional investors and hedge funds 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.