Exchange Traded Concepts LLC Purchases Shares of 187,814 Olaplex Holdings, Inc. (NASDAQ:OLPX)

Exchange Traded Concepts LLC acquired a new position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 187,814 shares of the company's stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OLPX. Hsbc Holdings PLC acquired a new stake in Olaplex during the 4th quarter valued at approximately $34,000. BNP Paribas Financial Markets bought a new stake in shares of Olaplex in the 4th quarter valued at $35,000. Parkside Financial Bank & Trust boosted its stake in shares of Olaplex by 290.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company's stock valued at $37,000 after purchasing an additional 15,911 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Olaplex during the fourth quarter worth $43,000. Finally, Virtu Financial LLC bought a new position in Olaplex during the fourth quarter worth $55,000. 87.37% of the stock is owned by institutional investors and hedge funds.

Olaplex Stock Up 1.3%

NASDAQ OLPX traded up $0.02 on Thursday, hitting $1.54. 1,115,634 shares of the company were exchanged, compared to its average volume of 2,071,916. The company has a current ratio of 10.74, a quick ratio of 9.53 and a debt-to-equity ratio of 0.73. The company has a market cap of $1.03 billion, a PE ratio of 77.04 and a beta of 2.33. The stock has a fifty day moving average of $1.32 and a 200-day moving average of $1.45. Olaplex Holdings, Inc. has a 12 month low of $1.01 and a 12 month high of $2.77.

Olaplex (NASDAQ:OLPX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.02). Olaplex had a return on equity of 6.36% and a net margin of 2.91%. The company had revenue of $96.98 million for the quarter, compared to the consensus estimate of $93.82 million. During the same period last year, the company earned $0.03 EPS. Olaplex's revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, analysts forecast that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Barclays upped their price target on shares of Olaplex from $1.20 to $1.40 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Telsey Advisory Group restated a "market perform" rating and set a $2.00 target price on shares of Olaplex in a research report on Friday, May 9th. Finally, Wall Street Zen downgraded Olaplex from a "hold" rating to a "sell" rating in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $1.85.

About Olaplex

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.