MYDA Advisors LLC Takes $762,000 Position in Olaplex Holdings, Inc. $OLPX

Key Points

• MYDA Advisors LLC has acquired a new stake in Olaplex Holdings, purchasing 600,000 shares valued at approximately $762,000.
• Olaplex reported a 2.3% increase in quarterly revenue compared to the previous year, despite a loss in earnings per share that missed analysts' expectations.
• Multiple analysts have raised their price targets for Olaplex, with Canaccord Genuity upgrading the stock to a "buy" rating and setting a target of $2.00.

MYDA Advisors LLC acquired a new stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 600,000 shares of the company's stock, valued at approximately $762,000. MYDA Advisors LLC owned about 0.09% of Olaplex as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of OLPX. T. Rowe Price Investment Management Inc. increased its position in Olaplex by 12.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 27,567,214 shares of the company's stock valued at $35,011,000 after acquiring an additional 3,066,614 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Olaplex by 162.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company's stock valued at $4,008,000 after acquiring an additional 1,432,400 shares during the last quarter. Russell Investments Group Ltd. increased its position in Olaplex by 287.6% during the first quarter. Russell Investments Group Ltd. now owns 713,320 shares of the company's stock valued at $906,000 after acquiring an additional 529,269 shares during the last quarter. Nuveen LLC bought a new position in Olaplex during the first quarter valued at $428,000. Finally, Exchange Traded Concepts LLC bought a new position in Olaplex during the first quarter valued at $239,000. Institutional investors own 87.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Canaccord Genuity Group upgraded shares of Olaplex from a "hold" rating to a "buy" rating and upped their price target for the stock from $1.50 to $2.00 in a report on Monday, August 25th. Wall Street Zen upgraded shares of Olaplex from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Telsey Advisory Group restated a "market perform" rating and issued a $2.00 price target on shares of Olaplex in a report on Thursday, August 7th. Finally, Barclays upped their price target on shares of Olaplex from $1.40 to $1.50 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Olaplex currently has an average rating of "Hold" and a consensus target price of $1.88.

Olaplex Stock Down 0.3%

Olaplex stock traded down $0.01 during midday trading on Tuesday, hitting $1.43. 349,667 shares of the company's stock were exchanged, compared to its average volume of 1,353,091. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.20 and a current ratio of 3.86. Olaplex Holdings, Inc. has a 12 month low of $1.01 and a 12 month high of $2.77. The firm has a 50-day moving average of $1.45 and a two-hundred day moving average of $1.37. The company has a market cap of $950.59 million, a PE ratio of 35.75 and a beta of 2.34.

Olaplex (NASDAQ:OLPX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). Olaplex had a positive return on equity of 3.32% and a negative net margin of 0.30%.The business had revenue of $106.28 million for the quarter, compared to the consensus estimate of $100.30 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. Olaplex has set its FY 2025 guidance at EPS. As a group, analysts expect that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

Olaplex Company Profile

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.