Olaplex (NASDAQ:OLPX) Sees Strong Trading Volume Following Analyst Upgrade

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) saw unusually-high trading volume on Monday after Telsey Advisory Group raised their price target on the stock from $2.00 to $2.06. Telsey Advisory Group currently has a market perform rating on the stock. Approximately 3,209,151 shares traded hands during trading, a decline of 14% from the previous session’s volume of 3,731,433 shares.The stock last traded at $2.0150 and had previously closed at $2.02.

Several other research firms also recently commented on OLPX. Evercore set a $2.50 price target on shares of Olaplex in a research note on Friday, March 6th. Morgan Stanley set a $1.40 price objective on shares of Olaplex in a report on Tuesday, March 10th. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a research report on Thursday, January 22nd. Barclays set a $1.75 target price on shares of Olaplex in a report on Friday, January 16th. Finally, Northland Securities downgraded shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Olaplex presently has a consensus rating of “Hold” and an average target price of $1.89.

Insider Activity at Olaplex

In other Olaplex news, CFO Catherine Dunleavy sold 93,809 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $118,199.34. Following the sale, the chief financial officer directly owned 3,026,885 shares in the company, valued at $3,813,875.10. This represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Trisha L. Fox sold 26,426 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $1.26, for a total transaction of $33,296.76. Following the completion of the transaction, the insider directly owned 721,169 shares in the company, valued at approximately $908,672.94. This represents a 3.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 215,442 shares of company stock valued at $271,457 over the last quarter. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Fund 1 Investments LLC bought a new stake in Olaplex during the fourth quarter worth $1,023,000. Abel Hall LLC acquired a new position in shares of Olaplex during the 4th quarter worth $27,000. Jump Financial LLC raised its holdings in shares of Olaplex by 193.7% during the 4th quarter. Jump Financial LLC now owns 29,800 shares of the company’s stock worth $40,000 after buying an additional 19,653 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Olaplex by 284.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,909,836 shares of the company’s stock worth $2,559,000 after buying an additional 1,413,423 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Olaplex by 9.5% during the 4th quarter. Barclays PLC now owns 245,088 shares of the company’s stock worth $328,000 after buying an additional 21,292 shares during the last quarter. 87.37% of the stock is owned by institutional investors.

Olaplex Stock Up 0.5%

The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $1.52 and a two-hundred day moving average of $1.36. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -203.00 and a beta of 2.24.

Olaplex (NASDAQ:OLPX) last issued its earnings results on Thursday, March 5th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Olaplex had a positive return on equity of 1.07% and a negative net margin of 2.19%.The firm had revenue of $105.12 million during the quarter, compared to the consensus estimate of $104.21 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

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.