Olaplex (NASDAQ:OLPX) Trading 5.4% Higher - Here's Why

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) shares traded up 5.4% during trading on Tuesday . The company traded as high as $1.44 and last traded at $1.48. 94,977 shares traded hands during trading, a decline of 95% from the average session 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 reiterated a "market perform" rating and issued a $2.00 price target 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. Finally, Barclays upped 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 equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, Olaplex has an average rating of "Hold" and a consensus price target of $1.85.

Olaplex Stock Performance

The firm has a 50 day moving average of $1.34 and a 200-day moving average of $1.43. The company has a market cap of $1.01 billion, a P/E ratio of 75.79 and a beta of 2.33. The company has a quick ratio of 9.53, a current ratio of 10.74 and a debt-to-equity ratio of 0.73.

Olaplex (NASDAQ:OLPX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.02). The firm had revenue of $96.98 million for 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%. Olaplex's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. As a group, sell-side analysts anticipate that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Olaplex

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