Olaplex (NASDAQ:OLPX) Hits New 52-Week High – Here’s Why

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $2.06 and last traded at $2.05, with a volume of 3270734 shares. The stock had previously closed at $2.06.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OLPX shares. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a research note on Tuesday, April 21st. Zacks Research raised shares of Olaplex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Wall Street Zen upgraded shares of Olaplex from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Jefferies Financial Group reissued a “buy” rating on shares of Olaplex in a research report on Wednesday, March 4th. Finally, Evercore set a $2.50 target price on shares of Olaplex in a report on Friday, March 6th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $1.92.

Olaplex Price Performance

The stock has a market capitalization of $1.38 billion, a P/E ratio of -102.50 and a beta of 1.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 6.27 and a quick ratio of 5.34. The company’s 50-day simple moving average is $2.04 and its 200-day simple moving average is $1.74.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $99.37 million during the quarter, compared to the consensus estimate 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 for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Olaplex Holdings, Inc. will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Trisha L. Fox sold 16,324 shares of Olaplex stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $2.04, for a total transaction of $33,300.96. Following the completion of the transaction, the insider owned 1,064,039 shares in the company, valued at approximately $2,170,639.56. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 4.80% of the company’s stock.

Institutional Trading of Olaplex

Several institutional investors and hedge funds have recently bought and sold shares of the business. Abel Hall LLC boosted its stake in shares of Olaplex by 44.6% during the 1st quarter. Abel Hall LLC now owns 28,663 shares of the company’s stock worth $58,000 after acquiring an additional 8,845 shares during the period. Creative Planning lifted its holdings in Olaplex by 35.0% during the 2nd quarter. Creative Planning now owns 37,357 shares of the company’s stock valued at $52,000 after purchasing an additional 9,690 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Olaplex by 15.8% during the 3rd quarter. Intech Investment Management LLC now owns 74,780 shares of the company’s stock valued at $98,000 after purchasing an additional 10,192 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Olaplex by 95.4% during the third quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock worth $39,000 after purchasing an additional 14,507 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in Olaplex during the first quarter worth $36,000. 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.