Traders Buy High Volume of Call Options on Olaplex (NASDAQ:OLPX)

Olaplex Holdings, Inc. (NASDAQ:OLPX) saw unusually large options trading on Monday. Traders bought 6,657 call options on the company. This is an increase of 953% compared to the typical daily volume of 632 call options.

Insider Buying and Selling

In other news, VP Kristi A. Belhumeur sold 42,480 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $1.68, for a total value of $71,366.40. Following the transaction, the vice president now owns 294,553 shares of the company’s stock, valued at $494,849.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC increased its stake in shares of Olaplex by 62.0% during the fourth quarter. Waldron Private Wealth LLC now owns 16,227 shares of the company’s stock valued at $41,000 after buying an additional 6,213 shares during the period. Price T Rowe Associates Inc. MD increased its position in Olaplex by 27.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,957 shares of the company’s stock valued at $60,000 after purchasing an additional 6,614 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Olaplex by 2,108.4% in the 4th quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock valued at $26,000 after purchasing an additional 9,593 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Olaplex by 57.8% in the 1st quarter. Bleakley Financial Group LLC now owns 28,591 shares of the company’s stock worth $55,000 after purchasing an additional 10,473 shares during the period. Finally, Quent Capital LLC boosted its stake in shares of Olaplex by 2,463.8% during the fourth quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock valued at $28,000 after purchasing an additional 10,742 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Olaplex Price Performance

Shares of Olaplex stock opened at $1.60 on Wednesday. The stock has a 50 day moving average price of $1.63 and a 200-day moving average price of $1.85. Olaplex has a one year low of $1.19 and a one year high of $4.27. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 22.86 and a beta of 2.41. The company has a debt-to-equity ratio of 0.76, a quick ratio of 9.12 and a current ratio of 10.71.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $98.90 million during the quarter, compared to the consensus estimate of $95.15 million. Olaplex had a net margin of 10.91% and a return on equity of 11.61%. The firm’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 earnings per share. Equities analysts expect that Olaplex will post 0.14 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on OLPX. Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and increased their price target for the company from $1.25 to $2.00 in a research note on Tuesday, March 19th. Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 target price on shares of Olaplex in a research report on Thursday, May 2nd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.51.

Olaplex Company Profile

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.