Olaplex (NASDAQ:OLPX) Sees Strong Trading Volume

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 5,111,681 shares changed hands during trading, an increase of 154% from the previous session's volume of 2,011,825 shares.The stock last traded at $1.93 and had previously closed at $1.92.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OLPX shares. Piper Sandler upgraded shares of Olaplex from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $1.25 to $2.00 in a research report on Tuesday, March 19th. Truist Financial cut their price objective on shares of Olaplex from $7.00 to $3.00 and set a "buy" rating on the stock in a report on Monday, March 4th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $2.00 price target on shares of Olaplex in a research note on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $2.59.

Olaplex Stock Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.21 and a current ratio of 10.92. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 21.56 and a beta of 2.28. The stock has a fifty day simple moving average of $2.04 and a two-hundred day simple moving average of $2.04.

Olaplex (NASDAQ:OLPX - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.09% and a net margin of 13.44%. The business had revenue of $111.72 million for the quarter, compared to analyst estimates of $108.29 million. During the same period last year, the firm posted $0.07 earnings per share. Olaplex's revenue was down 14.5% compared to the same quarter last year. Analysts expect that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Olaplex by 19.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,465,001 shares of the company's stock worth $189,722,000 after purchasing an additional 2,193,104 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Olaplex by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 11,005,310 shares of the company's stock worth $27,953,000 after acquiring an additional 1,366,353 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Olaplex by 34.8% in the fourth 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 period. AQR Capital Management LLC grew its stake in shares of Olaplex by 142.1% in the first quarter. AQR Capital Management LLC now owns 5,078,963 shares of the company's stock valued at $20,875,000 after buying an additional 2,980,954 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Olaplex during the 4th quarter valued at about $18,806,000. Hedge funds and other institutional investors own 87.37% of the company's stock.

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.