Olaplex (NASDAQ:OLPX) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Olaplex (NASDAQ:OLPX) from a strong sell rating to a hold rating in a research note released on Thursday,Zacks.com reports.

A number of other equities research analysts have also weighed in on OLPX. Wall Street Zen lowered shares of Olaplex from a “hold” rating to a “sell” rating in a report on Sunday, February 15th. Barclays set a $1.75 target price on shares of Olaplex in a research report on Friday, January 16th. Northland Securities began coverage on Olaplex in a report on Thursday, November 20th. They issued an “outperform” rating and a $2.00 price target for the company. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Olaplex has an average rating of “Hold” and a consensus target price of $1.85.

Olaplex Stock Performance

Shares of Olaplex stock opened at $1.65 on Thursday. 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 stock’s fifty day moving average is $1.50 and its two-hundred day moving average is $1.35. Olaplex has a 52 week low of $0.99 and a 52 week high of $1.84. The company has a market capitalization of $1.10 billion, a PE ratio of 82.00 and a beta of 2.26.

Institutional Investors Weigh In On Olaplex

A number of hedge funds have recently made changes to their positions in OLPX. Empowered Funds LLC bought a new stake in Olaplex during the first quarter valued at about $576,000. Jane Street Group LLC boosted its holdings in shares of Olaplex by 151.8% in the 1st quarter. Jane Street Group LLC now owns 88,321 shares of the company’s stock valued at $112,000 after buying an additional 258,873 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Olaplex by 166.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 59,016 shares of the company’s stock worth $83,000 after buying an additional 36,887 shares during the last quarter. R Squared Ltd bought a new position in shares of Olaplex during the 2nd quarter worth approximately $25,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Olaplex during the 2nd quarter worth approximately $75,000. 87.37% of the stock is currently owned by hedge funds and other institutional investors.

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.