Olaplex (NASDAQ:OLPX) Reaches New 52-Week High – Still a Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $2.04 and last traded at $2.03, with a volume of 5146911 shares. The stock had previously closed at $2.03.

Analyst Upgrades and Downgrades

Several analysts recently commented on OLPX shares. Canaccord Genuity Group cut shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Jefferies Financial Group restated a “buy” rating on shares of Olaplex in a research report on Wednesday, March 4th. Northland Securities cut shares of Olaplex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Barclays set a $1.75 price target on Olaplex in a research note on Friday, January 16th. Finally, Telsey Advisory Group upped their price target on Olaplex from $2.00 to $2.06 and gave the stock a “market perform” rating in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Olaplex has a consensus rating of “Hold” and an average target price of $1.89.

Olaplex Stock Performance

The business has a 50-day moving average of $1.55 and a 200 day moving average of $1.37. The stock has a market cap of $1.36 billion, a PE ratio of -203.00 and a beta of 2.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.00 and a current ratio of 4.58.

Olaplex (NASDAQ:OLPX) last announced its earnings results on Thursday, March 5th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Olaplex had a negative net margin of 2.19% and a positive return on equity of 1.07%. The firm had revenue of $105.12 million for the quarter, compared to analyst estimates of $104.21 million. During the same quarter last year, the business earned $0.01 earnings per share. Olaplex’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Insider Transactions at Olaplex

In related news, CFO Catherine Dunleavy sold 93,809 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $118,199.34. Following the completion of the sale, the chief financial officer directly owned 3,026,885 shares in the company, valued at approximately $3,813,875.10. This represents a 3.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Trisha L. Fox sold 25,421 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $32,030.46. Following the sale, the insider directly owned 1,080,363 shares of the company’s stock, valued at approximately $1,361,257.38. The trade was a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 215,442 shares of company stock valued at $271,457 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Olaplex

Several institutional investors and hedge funds have recently bought and sold shares of OLPX. Headlands Technologies LLC bought a new position in Olaplex in the fourth quarter worth about $25,000. Chilton Capital Management LLC bought a new position in shares of Olaplex during the third quarter valued at approximately $26,000. Abel Hall LLC acquired a new stake in shares of Olaplex during the 4th quarter worth approximately $27,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Olaplex during the 3rd quarter worth approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Olaplex in the 3rd quarter worth approximately $32,000. 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.