Olaplex (NASDAQ:OLPX) Stock Price Up 4.4%

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report)'s stock price shot up 4.4% during mid-day trading on Thursday . The company traded as high as $1.68 and last traded at $1.67. 445,347 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,998,677 shares. The stock had previously closed at $1.60.

Analyst Ratings Changes

A number of research analysts have recently commented on OLPX shares. Piper Sandler raised shares of Olaplex from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $1.25 to $2.00 in a research report on Tuesday, March 19th. Telsey Advisory Group reiterated a "market perform" rating and set a $2.00 price objective on shares of Olaplex in a research note on Thursday, May 2nd. Finally, Truist Financial dropped 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. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $2.51.

Olaplex Trading Up 3.1 %

The company has a market cap of $1.09 billion, a price-to-earnings ratio of 22.86 and a beta of 2.34. The business's fifty day moving average price is $1.62 and its 200 day moving average price is $1.96. The company has a debt-to-equity ratio of 0.76, a current ratio of 10.71 and a quick ratio of 9.12.

Olaplex (NASDAQ:OLPX - Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share for the quarter, meeting analysts' consensus estimates of $0.03. Olaplex had a net margin of 10.91% and a return on equity of 11.61%. The business had revenue of $98.90 million during the quarter, compared to the consensus estimate of $95.15 million. During the same quarter in the prior year, the firm posted $0.05 EPS. The company's revenue for the quarter was down 13.1% compared to the same quarter last year. Research analysts anticipate that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Olaplex

In other news, VP Kristi A. Belhumeur sold 42,480 shares of the company's stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $1.68, for a total transaction of $71,366.40. Following the transaction, the vice president now owns 294,553 shares in the company, valued at $494,849.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Olaplex

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its position in Olaplex by 27.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,957 shares of the company's stock valued at $60,000 after buying an additional 6,614 shares during the last quarter. PEAK6 Investments LLC purchased a new position in shares of Olaplex in the 1st quarter worth approximately $232,000. Quadrature Capital Ltd grew its holdings in shares of Olaplex by 50.4% in the first quarter. Quadrature Capital Ltd now owns 88,206 shares of the company's stock valued at $170,000 after acquiring an additional 29,545 shares in the last quarter. Pitcairn Co. grew its holdings in shares of Olaplex by 107.5% in the first quarter. Pitcairn Co. now owns 72,023 shares of the company's stock valued at $138,000 after acquiring an additional 37,308 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in Olaplex by 1,182.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 71,856 shares of the company's stock valued at $138,000 after purchasing an additional 66,252 shares during the period. Institutional investors and hedge funds 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.

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