Olaplex (NASDAQ:OLPX) Trading 10.3% Higher - Should You Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report)'s share price was up 10.3% during mid-day trading on Wednesday . The stock traded as high as $1.69 and last traded at $1.66. Approximately 952,955 shares traded hands during trading, a decline of 51% from the average daily volume of 1,959,576 shares. The stock had previously closed at $1.50.

Analyst Upgrades and Downgrades

OLPX has been the subject of several analyst reports. Wall Street Zen upgraded Olaplex from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Barclays increased their target price on Olaplex from $1.40 to $1.50 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $2.00 target price on shares of Olaplex in a report on Friday, May 9th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $1.88.

Olaplex Trading Down 3.5%

The stock has a market cap of $1.02 billion, a PE ratio of 76.29 and a beta of 2.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 9.53 and a current ratio of 10.74. The stock has a fifty day moving average price of $1.40 and a 200 day moving average price of $1.39.

Olaplex (NASDAQ:OLPX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.02). The company had revenue of $96.98 million during the quarter, compared to the consensus estimate of $93.82 million. Olaplex had a return on equity of 6.36% and a net margin of 2.91%. The company's revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share. Equities analysts expect that Olaplex Holdings, Inc. will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Olaplex

A number of hedge funds have recently made changes to their positions in OLPX. Charles Schwab Investment Management Inc. grew its holdings in Olaplex by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company's stock valued at $1,861,000 after buying an additional 9,661 shares in the last quarter. Belpointe Asset Management LLC increased its position in Olaplex by 23.6% in the 4th quarter. Belpointe Asset Management LLC now owns 61,461 shares of the company's stock valued at $106,000 after acquiring an additional 11,724 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Olaplex by 20.0% during the 1st quarter. MetLife Investment Management LLC now owns 70,438 shares of the company's stock worth $89,000 after acquiring an additional 11,759 shares in the last quarter. ProShare Advisors LLC lifted its stake in Olaplex by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 39,052 shares of the company's stock valued at $68,000 after buying an additional 12,852 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Olaplex by 80.6% during the 1st quarter. Hsbc Holdings PLC now owns 35,902 shares of the company's stock worth $46,000 after purchasing an additional 16,023 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.