Olaplex (NASDAQ:OLPX) Hits New 1-Year High – Here’s What Happened

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $2.05 and last traded at $2.04, with a volume of 122014 shares trading hands. The stock had previously closed at $2.05.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on OLPX shares. Evercore set a $2.50 price target on shares of Olaplex in a research report on Friday, March 6th. Canaccord Genuity Group downgraded shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Northland Securities downgraded Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Morgan Stanley set a $1.40 price objective on Olaplex in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $1.92.

Olaplex Stock Performance

The company has a current ratio of 6.27, a quick ratio of 5.34 and a debt-to-equity ratio of 0.40. The company has a market cap of $1.38 billion, a PE ratio of -102.50 and a beta of 1.87. The business’s 50-day simple moving average is $1.90 and its 200-day simple moving average is $1.57.

Olaplex (NASDAQ:OLPX) last released its earnings results on Monday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. The company had revenue of $99.37 million during the quarter, compared to the consensus estimate of $94.11 million. The company’s revenue was up 2.5% on a year-over-year basis. As a group, analysts expect that Olaplex Holdings, Inc. will post 0.09 EPS for the current fiscal year.

Insider Transactions at Olaplex

In other news, 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 transaction of $118,199.34. Following the completion of the sale, the chief financial officer directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Trisha L. Fox sold 25,421 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 $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. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 215,442 shares of company stock valued at $271,457 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Groupe la Francaise bought a new position in shares of Olaplex during the 1st quarter valued at $1,484,000. Gabelli Funds LLC bought a new position in shares of Olaplex during the 1st quarter valued at $998,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Olaplex during the 1st quarter valued at $954,000. PSquared Asset Management AG bought a new position in shares of Olaplex during the 1st quarter valued at $2,874,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Olaplex by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 666,886 shares of the company’s stock valued at $1,354,000 after purchasing an additional 21,085 shares in the last quarter. 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.