Olaplex (NASDAQ:OLPX) Posts Earnings Results, Beats Expectations By $0.01 EPS

Olaplex (NASDAQ:OLPX) posted its quarterly earnings results on Monday. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01, Briefing.com reports. The business had revenue of $99.37 million during the quarter, compared to analysts’ expectations of $94.11 million. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.22%. Olaplex’s quarterly revenue was up 2.5% on a year-over-year basis.

Olaplex Price Performance

Shares of NASDAQ OLPX traded down $0.01 during midday trading on Wednesday, reaching $2.04. 3,043,057 shares of the company were exchanged, compared to its average volume of 3,832,157. The stock’s 50-day moving average price is $1.79 and its 200-day moving average price is $1.51. The stock has a market cap of $1.37 billion, a P/E ratio of -101.75 and a beta of 1.87. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 0.40. Olaplex has a one year low of $0.99 and a one year high of $2.04.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Canaccord Genuity Group downgraded shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Wall Street Zen raised Olaplex from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Barclays boosted their price objective on Olaplex from $1.75 to $2.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 14th. Telsey Advisory Group upped their target price on shares of Olaplex from $2.00 to $2.06 and gave the company a “market perform” rating in a research note on Friday, March 27th. Finally, Morgan Stanley set a $1.40 price target on shares of Olaplex in a report on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Olaplex has an average rating of “Reduce” and a consensus target price of $1.92.

Insider Activity

In related news, insider Trisha L. Fox sold 25,421 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $1.26, for a total transaction of $32,030.46. Following the completion of the transaction, the insider directly owned 1,080,363 shares of the company’s stock, valued at $1,361,257.38. This trade represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Catherine Dunleavy sold 93,809 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $118,199.34. Following the transaction, the chief financial officer owned 3,026,885 shares of the company’s stock, valued at $3,813,875.10. This trade represents a 3.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 215,442 shares of company stock valued at $271,457. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Olaplex

Several large investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in Olaplex in the fourth quarter worth $25,000. Abel Hall LLC purchased a new position in Olaplex during the fourth quarter worth about $27,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Olaplex during the third quarter valued at approximately $30,000. BNP Paribas Financial Markets grew its stake in Olaplex by 95.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock valued at $39,000 after purchasing an additional 14,507 shares during the period. Finally, Jump Financial LLC increased its position in shares of Olaplex by 193.7% during the 4th quarter. Jump Financial LLC now owns 29,800 shares of the company’s stock valued at $40,000 after purchasing an additional 19,653 shares during the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.

Olaplex Company Profile

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.