Olaplex (NASDAQ:OLPX) Reaches New 52-Week High - Here's Why

Key Points

• Olaplex reached a new 52-week high, trading as high as $2.04 (last $2.035) on Monday with about 364,632 shares changing hands and a market capitalization near $1.36 billion.
• Analysts are largely cautious—one Buy, five Holds and one Sell—with a consensus rating of Hold and a consensus target price of $1.92, while individual targets range from $1.40 to $2.50 and several firms recently raised ratings/targets.
• Insiders have been net sellers recently (215,442 shares sold in the past 90 days; insiders own 4.30%), even as the company posted a slight revenue beat ($105.12M vs. $104.21M) and reported $0.01 EPS last quarter.

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $2.04 and last traded at $2.0350, with a volume of 364632 shares. The stock had previously closed at $2.03.

Analyst Upgrades and Downgrades

OLPX has been the topic of a number of analyst reports. Zacks Research upgraded shares of Olaplex from a "strong sell" rating to a "hold" rating in a report on Thursday, February 19th. Wall Street Zen raised Olaplex from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Evercore set a $2.50 price objective on Olaplex in a report on Friday, March 6th. Telsey Advisory Group boosted their target price on Olaplex from $2.00 to $2.06 and gave the stock a "market perform" rating in a research note on Friday, March 27th. Finally, Morgan Stanley set a $1.40 price target on Olaplex in a report on Tuesday, March 10th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $1.92.

Olaplex Trading Up 0.2%

The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 0.40. The business's fifty day simple moving average is $1.74 and its two-hundred day simple moving average is $1.47. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -203.50 and a beta of 1.88.

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

Insider Activity

In other news, insider Trisha L. Fox sold 26,426 shares of Olaplex stock in a transaction on Monday, March 9th. The shares were sold at an average price of $1.26, for a total value of $33,296.76. Following the transaction, the insider directly owned 721,169 shares of the company's stock, valued at $908,672.94. The trade was a 3.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Catherine Dunleavy sold 93,809 shares of Olaplex stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $118,199.34. Following the completion of the transaction, the chief financial officer directly owned 3,026,885 shares in the company, valued at $3,813,875.10. The trade was a 3.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 215,442 shares of company stock valued at $271,457 in the last ninety days. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Olaplex

Institutional investors have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in shares of Olaplex in the 4th quarter valued at $25,000. Chilton Capital Management LLC purchased a new position in Olaplex in the 3rd quarter valued at $26,000. Abel Hall LLC purchased a new position in Olaplex in the 4th quarter valued at $27,000. Schonfeld Strategic Advisors LLC purchased a new position in Olaplex in the 3rd quarter valued at $30,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Olaplex in the 3rd quarter valued at $32,000. 87.37% of the stock is owned by institutional investors and hedge funds.

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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