Olaplex (NASDAQ:OLPX) Sees Strong Trading Volume on Analyst Upgrade

Key Points

• Olaplex experienced unusually-strong trading volume (~3.21M shares) after Telsey Advisory Group raised its price target from $2.00 to $2.06 while maintaining a market perform rating; the stock last traded near $2.02.
• Analysts' consensus remains a Hold with a consensus target price of $1.89 and price targets ranging roughly from $1.40 to $2.50 (one Buy, five Hold, one Sell).
• Insiders have been net sellers—215,442 shares sold over the last 90 days (insiders own 4.20%); meanwhile institutional investors own about 87.37% of the company.

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) shares saw unusually-strong trading volume on Monday after Telsey Advisory Group raised their price target on the stock from $2.00 to $2.06. Telsey Advisory Group currently has a market perform rating on the stock. Approximately 3,209,151 shares traded hands during trading, a decline of 14% from the previous session's volume of 3,731,433 shares.The stock last traded at $2.0150 and had previously closed at $2.02.

Several other equities analysts have also weighed in on the company. Morgan Stanley set a $1.40 target price on Olaplex in a research note on Tuesday, March 10th. Northland Securities downgraded shares of Olaplex from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Barclays set a $1.75 price objective on shares of Olaplex in a research note on Friday, January 16th. Zacks Research upgraded shares of Olaplex from a "strong sell" rating to a "hold" rating in a report on Thursday, February 19th. Finally, Evercore set a $2.50 target price on shares of Olaplex in a research note on Friday, March 6th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $1.89.

Insider Transactions at Olaplex

In other news, General Counsel John C. Duffy sold 34,962 shares of Olaplex stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $1.26, for a total transaction of $44,052.12. Following the transaction, the general counsel owned 982,855 shares in the company, valued at $1,238,397.30. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Trisha L. Fox sold 25,421 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total value of $32,030.46. Following the completion of the transaction, the insider owned 1,080,363 shares of the company's stock, valued at $1,361,257.38. This represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 215,442 shares of company stock valued at $271,457 over the last 90 days. 4.20% of the stock is owned by company insiders.

Institutional Trading of Olaplex

Several hedge funds and other institutional investors have recently modified their holdings of OLPX. Headlands Technologies LLC acquired a new position in shares of Olaplex during the fourth quarter worth about $25,000. Chilton Capital Management LLC acquired a new stake in Olaplex in the 3rd quarter valued at approximately $26,000. Abel Hall LLC acquired a new stake in Olaplex in the 4th quarter valued at approximately $27,000. Schonfeld Strategic Advisors LLC bought a new stake in Olaplex in the 3rd quarter valued at approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Olaplex in the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 87.37% of the company's stock.

Olaplex Trading Down 0.2%

The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -201.50 and a beta of 2.24. The business has a 50-day simple moving average of $1.51 and a two-hundred day simple moving average of $1.35. 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 posted its quarterly earnings data on Thursday, March 5th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting 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 the consensus estimate of $104.21 million. During the same period last year, the company earned $0.01 earnings per share. The firm's revenue was up 4.4% compared to the same quarter last year. As a group, research analysts forecast that Olaplex Holdings, Inc. will post 0.1 EPS for the current year.

Olaplex Company Profile

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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