Olaplex (NASDAQ:OLPX) Stock Price Up 5.6% – Still a Buy?

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) rose 5.6% during trading on Wednesday . The stock traded as high as $1.44 and last traded at $1.4050. Approximately 333,254 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,259,912 shares. The stock had previously closed at $1.33.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OLPX. Barclays dropped their price target on Olaplex from $1.50 to $1.25 and set an “equal weight” rating for the company in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a research report on Wednesday, October 8th. Northland Securities began coverage on shares of Olaplex in a report on Thursday, November 20th. They issued an “outperform” rating and a $2.00 target price on the stock. Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Northland Capmk upgraded Olaplex to a “strong-buy” rating in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $1.85.

Olaplex Stock Performance

The stock has a 50 day simple moving average of $1.16 and a 200 day simple moving average of $1.32. The company has a quick ratio of 3.52, a current ratio of 4.16 and a debt-to-equity ratio of 0.40. The company has a market cap of $937.85 million, a price-to-earnings ratio of 64.50 and a beta of 2.28.

Olaplex (NASDAQ:OLPX) last announced its earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $114.58 million during the quarter, compared to the consensus estimate of $109.77 million. Olaplex had a negative net margin of 1.18% and a positive return on equity of 1.31%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. As a group, analysts predict that Olaplex Holdings, Inc. will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OLPX. R Squared Ltd bought a new stake in Olaplex during the second quarter valued at $25,000. Chilton Capital Management LLC bought a new stake in shares of Olaplex in the 3rd quarter worth approximately $26,000. Schonfeld Strategic Advisors LLC bought a new position in Olaplex during the 3rd quarter worth $30,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Olaplex in the third quarter worth $32,000. Finally, BNP Paribas Financial Markets lifted its stake in Olaplex by 95.4% in the third quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock valued at $39,000 after buying an additional 14,507 shares during the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.

About Olaplex

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.