Olaplex (NASDAQ:OLPX) Shares Up 4.8%

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) shares shot up 4.8% on Wednesday . The stock traded as high as $1.34 and last traded at $1.32. 501,569 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 2,038,436 shares. The stock had previously closed at $1.26.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OLPX. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $2.00 price target on shares of Olaplex in a research note on Friday, April 5th. Truist Financial decreased their target price on shares of Olaplex from $7.00 to $3.00 and set a "buy" rating for the company in a research report on Monday, March 4th. Finally, Piper Sandler raised shares of Olaplex from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $1.25 to $2.00 in a research report on Tuesday, March 19th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $2.59.

Olaplex Stock Up 7.1 %

The company has a current ratio of 10.92, a quick ratio of 9.21 and a debt-to-equity ratio of 0.77. The stock's 50-day simple moving average is $1.76 and its 200-day simple moving average is $1.98. The firm has a market capitalization of $892.84 million, a P/E ratio of 15.00 and a beta of 2.28.

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

Hedge Funds Weigh In On Olaplex

A number of institutional investors have recently made changes to their positions in OLPX. Pacer Advisors Inc. increased its holdings in shares of 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 buying an additional 2,124,323 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Olaplex in the 4th quarter worth $3,996,000. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 787,242 shares during the last quarter. Sanders Morris Harris LLC bought a new position in shares of Olaplex in the 1st quarter worth $660,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Olaplex by 119,729.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 336,722 shares of the company's stock worth $855,000 after buying an additional 336,441 shares during the last quarter. Institutional investors own 87.37% of the company's stock.

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.