Olaplex (NASDAQ:OLPX) Sets New 52-Week High – Here’s What Happened

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $2.04 and last traded at $2.0350, with a volume of 79657 shares changing hands. The stock had previously closed at $2.03.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a research note on Tuesday, April 21st. Morgan Stanley set a $1.40 price objective on shares of Olaplex in a research note on Tuesday, March 10th. Evercore set a $2.50 price objective on shares of Olaplex in a research note on Friday, March 6th. Northland Securities cut shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Olaplex in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1.92.

Olaplex Price Performance

The firm has a market cap of $1.36 billion, a PE ratio of -101.50 and a beta of 1.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.34 and a current ratio of 6.27. The company’s 50-day simple moving average is $1.84 and its two-hundred day simple moving average is $1.54.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. 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 2.23%. The company’s revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that Olaplex Holdings, Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Olaplex

In other Olaplex news, General Counsel John C. Duffy sold 34,962 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $44,052.12. Following the completion of the sale, the general counsel owned 982,855 shares of the company’s stock, valued at $1,238,397.30. This represents a 3.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Trisha L. Fox sold 25,421 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $32,030.46. Following the sale, the insider directly owned 1,080,363 shares of the company’s stock, valued at $1,361,257.38. The trade was a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 215,442 shares of company stock valued at $271,457 in the last quarter. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Olaplex

Institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Olaplex in the 4th quarter worth $25,000. Chilton Capital Management LLC bought a new position in Olaplex in the 3rd quarter worth $26,000. Abel Hall LLC bought a new position in Olaplex in the 4th quarter worth $27,000. Schonfeld Strategic Advisors LLC bought a new position in Olaplex in the 3rd quarter worth $30,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Olaplex in the 3rd quarter worth $32,000. Hedge funds and other institutional investors 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.