Olaplex (NASDAQ:OLPX) Trading Up 1.8%

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) rose 1.8% during mid-day trading on Tuesday . The company traded as high as $1.44 and last traded at $1.41. Approximately 142,667 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 2,042,883 shares. The stock had previously closed at $1.38.

Wall Street Analysts Forecast Growth

OLPX has been the subject of a number of research analyst reports. Truist Financial cut their price objective on Olaplex from $7.00 to $3.00 and set a "buy" rating for the company in a research report on Monday, March 4th. Piper Sandler upgraded Olaplex from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $1.25 to $2.00 in a research report on Tuesday, March 19th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $2.00 price objective on shares of Olaplex in a research report on Friday, April 5th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Olaplex presently has a consensus rating of "Hold" and a consensus target price of $2.59.

Olaplex Price Performance

The company's 50 day moving average price is $1.89 and its two-hundred day moving average price is $2.01. The company has a quick ratio of 9.21, a current ratio of 10.92 and a debt-to-equity ratio of 0.77. The stock has a market cap of $911.85 million, a P/E ratio of 15.56 and a beta of 2.28.

Olaplex (NASDAQ:OLPX - Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The firm had revenue of $111.72 million during the quarter, compared to the consensus estimate of $108.29 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The company's revenue was down 14.5% on a year-over-year basis. As a group, research analysts expect that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Olaplex

Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new position in Olaplex in the 4th quarter worth $3,996,000. Pacer Advisors Inc. raised its stake in Olaplex by 34.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company's stock worth $20,911,000 after acquiring an additional 2,124,323 shares during the last quarter. Vanguard Group Inc. raised its stake in Olaplex by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company's stock worth $18,796,000 after acquiring an additional 787,242 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in Olaplex in the 3rd quarter worth $82,000. Finally, Quadrature Capital Ltd raised its stake in Olaplex by 34.6% in the 3rd quarter. Quadrature Capital Ltd now owns 74,057 shares of the company's stock worth $145,000 after acquiring an additional 19,019 shares during the last quarter. 87.37% of the stock is owned by hedge funds and other institutional investors.

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.