Olaplex (NASDAQ:OLPX) Trading 6.3% Higher - Here's Why

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) traded up 6.3% during mid-day trading on Tuesday . The company traded as high as $1.45 and last traded at $1.45. 834,730 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 2,096,018 shares. The stock had previously closed at $1.36.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays lifted their target price on Olaplex from $1.20 to $1.40 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Wall Street Zen lowered Olaplex from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $2.00 price target on shares of Olaplex in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat, Olaplex has a consensus rating of "Hold" and an average target price of $1.85.

Olaplex Stock Up 0.7%

The firm has a 50-day moving average of $1.30 and a two-hundred day moving average of $1.46. The company has a quick ratio of 9.53, a current ratio of 10.74 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $965.35 million, a price-to-earnings ratio of 72.54 and a beta of 2.33.

Olaplex (NASDAQ:OLPX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.00 EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.02). Olaplex had a net margin of 2.91% and a return on equity of 6.36%. The firm had revenue of $96.98 million during the quarter, compared to analysts' expectations of $93.82 million. During the same quarter last year, the firm earned $0.03 EPS. The business's revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Olaplex

Several large investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its stake in Olaplex by 290.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company's stock valued at $37,000 after acquiring an additional 15,911 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Olaplex by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company's stock valued at $1,861,000 after acquiring an additional 9,661 shares during the period. Boston Partners increased its stake in Olaplex by 276.0% during the fourth quarter. Boston Partners now owns 6,674,169 shares of the company's stock valued at $11,257,000 after acquiring an additional 4,899,171 shares during the period. Virtu Financial LLC acquired a new position in shares of Olaplex in the 4th quarter worth approximately $55,000. Finally, American Century Companies Inc. raised its holdings in shares of Olaplex by 7.9% in the 4th quarter. American Century Companies Inc. now owns 568,149 shares of the company's stock worth $983,000 after buying an additional 41,670 shares in the last quarter. 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.