Olaplex (NASDAQ:OLPX) Upgraded at Zacks Research

Zacks Research upgraded shares of Olaplex (NASDAQ:OLPX) from a strong sell rating to a hold rating in a research note published on Thursday morning,Zacks.com reports.

OLPX has been the subject of several other research reports. Barclays set a $1.75 price objective on shares of Olaplex in a research report on Friday, January 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a research note on Friday, November 7th. Northland Securities began coverage on Olaplex in a research note on Thursday, November 20th. They set an “outperform” rating and a $2.00 price target on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a report on Thursday, January 22nd. Finally, Wall Street Zen cut Olaplex from a “hold” rating to a “sell” rating in a report on Sunday, February 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $1.85.

Olaplex Trading Up 0.6%

Shares of NASDAQ OLPX opened at $1.65 on Thursday. Olaplex has a 1-year low of $0.99 and a 1-year high of $1.84. The company has a 50-day moving average of $1.50 and a two-hundred day moving average of $1.35. The company has a market cap of $1.10 billion, a PE ratio of 82.50 and a beta of 2.26. The company has a current ratio of 4.16, a quick ratio of 3.52 and a debt-to-equity ratio of 0.40.

Hedge Funds Weigh In On Olaplex

Institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new position in shares of Olaplex in the 2nd quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in shares of Olaplex in the fourth quarter valued at approximately $25,000. Chilton Capital Management LLC bought a new stake in shares of Olaplex during the third quarter worth $26,000. Abel Hall LLC bought a new stake in shares of Olaplex during the fourth quarter worth $27,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Olaplex during the third quarter worth $30,000. 87.37% of the stock is currently owned by institutional investors and hedge funds.

About Olaplex

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.