Brokerages Set Olaplex Holdings, Inc. (NASDAQ:OLPX) PT at $1.85

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) have been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $1.85.

OLPX has been the subject of a number of research reports. Barclays set a $1.75 price target on Olaplex in a research note on Friday, January 16th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 target price on shares of Olaplex in a report on Monday. Weiss Ratings reissued a “sell (d)” rating on shares of Olaplex in a report on Thursday, January 22nd. Northland Securities began coverage on shares of Olaplex in a research note on Thursday, November 20th. They issued an “outperform” rating and a $2.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Olaplex from a “hold” rating to a “sell” rating in a research note on Sunday, February 15th.

Olaplex Trading Up 18.7%

NASDAQ:OLPX opened at $1.78 on Monday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 75.00 and a beta of 2.24. The business has a 50 day simple moving average of $1.55 and a 200 day simple moving average of $1.36. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.16 and a quick ratio of 3.52. Olaplex has a 12-month low of $0.99 and a 12-month high of $1.84.

Hedge Funds Weigh In On Olaplex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in shares of Olaplex in the first quarter worth $576,000. Jane Street Group LLC increased its position in Olaplex by 151.8% in the 1st quarter. Jane Street Group LLC now owns 88,321 shares of the company’s stock worth $112,000 after purchasing an additional 258,873 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Olaplex during the 2nd quarter valued at about $75,000. Creative Planning grew its stake in shares of Olaplex by 35.0% in the 2nd quarter. Creative Planning now owns 37,357 shares of the company’s stock valued at $52,000 after buying an additional 9,690 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its holdings in Olaplex by 139.9% in the second quarter. Dynamic Technology Lab Private Ltd now owns 93,933 shares of the company’s stock worth $132,000 after buying an additional 54,781 shares during the last quarter. 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.