Olaplex (NASDAQ:OLPX) Hits New 12-Month High - What's Next?

Key Points

• Shares of Olaplex (OLPX) hit a new 52-week high of $2.04 on Tuesday, trading about 3.45 million shares.
• Analyst sentiment is mixed with an average rating of "Hold" (one Buy, five Holds, one Sell) and an average target price of $1.92, leaving the stock currently above the consensus target.
• Olaplex's latest quarter delivered EPS of $0.01 (in line) and revenue of $105.12M (beat, +4.4% YoY), but the company still posts a negative net margin (-2.19%) and insiders have recently sold shares.

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $2.04 and last traded at $2.04, with a volume of 3445516 shares. The stock had previously closed at $2.03.

Wall Street Analysts Forecast Growth

OLPX has been the topic of several research reports. Northland Securities lowered Olaplex from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Olaplex in a research report on Thursday, January 22nd. Telsey Advisory Group upped their target price on Olaplex from $2.00 to $2.06 and gave the stock a "market perform" rating in a research report on Friday, March 27th. Barclays upped their target price on Olaplex from $1.75 to $2.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 14th. Finally, Evercore set a $2.50 target price on Olaplex in a research report on Friday, March 6th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $1.92.

Olaplex Stock Performance

The company has a market cap of $1.37 billion, a P/E ratio of -204.00 and a beta of 2.01. The firm has a 50 day moving average price of $1.66 and a 200-day moving average price of $1.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.00 and a current ratio of 4.58.

Olaplex (NASDAQ:OLPX - Get Free Report) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $105.12 million during the quarter, compared to the consensus estimate of $104.21 million. Olaplex had a positive return on equity of 1.07% and a negative net margin of 2.19%.The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 EPS. On average, research analysts predict that Olaplex Holdings, Inc. will post 0.09 EPS for the current year.

Insider Transactions at Olaplex

In other news, insider Trisha L. Fox sold 25,421 shares of the company's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $1.26, for a total transaction of $32,030.46. Following the completion of the sale, the insider owned 1,080,363 shares in the company, valued at approximately $1,361,257.38. This represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Catherine Dunleavy sold 93,809 shares of the company's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $118,199.34. Following the sale, the chief financial officer owned 3,026,885 shares of the company's stock, valued at approximately $3,813,875.10. This trade represents a 3.01% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 215,442 shares of company stock worth $271,457. 4.20% of the stock is owned by corporate insiders.

Institutional Trading of Olaplex

Several hedge funds have recently added to or reduced their stakes in OLPX. Empowered Funds LLC bought a new stake in Olaplex during the 1st quarter valued at approximately $576,000. Jane Street Group LLC boosted its stake in Olaplex by 151.8% during the 1st quarter. Jane Street Group LLC now owns 88,321 shares of the company's stock valued at $112,000 after purchasing an additional 258,873 shares during the period. Creative Planning boosted its stake in Olaplex by 35.0% during the 2nd quarter. Creative Planning now owns 37,357 shares of the company's stock valued at $52,000 after purchasing an additional 9,690 shares during the period. Norges Bank bought a new stake in Olaplex during the 2nd quarter valued at approximately $105,000. Finally, Marshall Wace LLP boosted its stake in Olaplex by 121.4% during the 2nd quarter. Marshall Wace LLP now owns 346,347 shares of the company's stock valued at $485,000 after purchasing an additional 189,947 shares during the period. Institutional investors own 87.37% of the company's stock.

About Olaplex

Olaplex, Inc NASDAQ: OLPX is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.

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