Olaplex (NASDAQ:OLPX) Trading 16.8% Higher

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report)'s stock price shot up 16.8% during mid-day trading on Thursday . The stock traded as high as $1.64 and last traded at $1.64. 1,211,445 shares were traded during trading, a decline of 41% from the average session volume of 2,037,011 shares. The stock had previously closed at $1.40.

Wall Street Analyst Weigh In

OLPX has been the subject of a number of analyst reports. Piper Sandler upgraded Olaplex from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $1.25 to $2.00 in a research report on Tuesday, March 19th. Truist Financial reduced their target price on Olaplex from $7.00 to $3.00 and set a "buy" rating for the company in a report on Monday, March 4th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $2.00 price target on shares of Olaplex in a report on Thursday. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $2.59.

Olaplex Price Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 10.92 and a quick ratio of 9.21. The firm has a market capitalization of $1.08 billion, a PE ratio of 18.56 and a beta of 2.34. The business's 50 day moving average is $1.68 and its two-hundred day moving average is $1.96.

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

Institutional Trading of Olaplex

Institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its stake in shares of Olaplex by 2,108.4% in the fourth quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company's stock worth $26,000 after buying an additional 9,593 shares during the period. Quent Capital LLC boosted its stake in shares of Olaplex by 2,463.8% during the 4th quarter. Quent Capital LLC now owns 11,178 shares of the company's stock valued at $28,000 after purchasing an additional 10,742 shares in the last quarter. HB Wealth Management LLC purchased a new position in shares of Olaplex during the fourth quarter valued at about $35,000. M&T Bank Corp bought a new position in Olaplex in the third quarter worth about $36,000. Finally, Waldron Private Wealth LLC lifted its holdings in Olaplex by 62.0% in the fourth quarter. Waldron Private Wealth LLC now owns 16,227 shares of the company's stock worth $41,000 after buying an additional 6,213 shares during the period. Hedge funds and other 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.