Olaplex (NASDAQ:OLPX) Stock Price Up 5.4% - Here's What Happened

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) was up 5.4% on Tuesday . The stock traded as high as $1.44 and last traded at $1.48. Approximately 94,977 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 1,994,064 shares. The stock had previously closed at $1.40.

Analyst Ratings Changes

OLPX has been the topic of several recent analyst reports. Telsey Advisory Group restated a "market perform" rating and set a $2.00 price objective on shares of Olaplex in a report on Friday, May 9th. Wall Street Zen lowered shares of Olaplex from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Finally, Barclays raised their price target on shares of Olaplex from $1.20 to $1.40 and gave the stock an "equal weight" rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $1.85.

Olaplex Trading Down 1.3%

The stock has a 50-day moving average of $1.35 and a 200 day moving average of $1.42. 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 cap of $1.05 billion, a PE ratio of 79.04 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.02). The business had revenue of $96.98 million for the quarter, compared to analysts' expectations of $93.82 million. Olaplex had a return on equity of 6.36% and a net margin of 2.91%. The company's revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the business earned $0.03 EPS. As a group, sell-side analysts anticipate that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Olaplex

Hedge funds and other institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new position in Olaplex in the first quarter valued at $25,000. Hsbc Holdings PLC acquired a new stake in shares of Olaplex during the 4th quarter valued at about $34,000. BNP Paribas Financial Markets purchased a new position in shares of Olaplex in the 4th quarter valued at about $35,000. KLP Kapitalforvaltning AS acquired a new position in Olaplex in the 4th quarter worth about $43,000. Finally, Virtu Financial LLC acquired a new position in Olaplex in the 4th quarter worth about $55,000. Institutional investors and hedge funds own 87.37% of the company's stock.

Olaplex Company Profile

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.