Olaplex (NASDAQ:OLPX) Shares Up 5.9%

Olaplex Holdings, Inc. (NASDAQ:OLPX) shot up 5.9% during trading on Friday . The company traded as high as $2.34 and last traded at $2.34. 246,519 shares changed hands during trading, a decline of 89% from the average session volume of 2,199,545 shares. The stock had previously closed at $2.21.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OLPX. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price target on shares of Olaplex in a research report on Tuesday, August 6th. TD Cowen increased their price target on Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Olaplex presently has a consensus rating of “Hold” and an average price target of $2.18.

Olaplex Price Performance

The stock has a market capitalization of $1.60 billion, a P/E ratio of 34.57 and a beta of 2.42. The company has a debt-to-equity ratio of 0.75, a quick ratio of 7.85 and a current ratio of 9.27. The stock has a 50-day simple moving average of $1.99 and a 200 day simple moving average of $1.77.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The firm had revenue of $103.90 million for the quarter, compared to analyst estimates of $103.65 million. During the same period last year, the company earned $0.03 EPS. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities analysts forecast that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Olaplex

In related news, Director John P. Bilbrey purchased 183,493 shares of Olaplex stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the transaction, the director now directly owns 241,593 shares of the company’s stock, valued at $495,265.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its stake in Olaplex by 42.0% during the 2nd quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock worth $30,317,000 after buying an additional 5,824,889 shares during the period. Scion Asset Management LLC acquired a new stake in Olaplex during the 2nd quarter worth $1,533,000. Vanguard Group Inc. raised its stake in Olaplex by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock worth $22,915,000 after buying an additional 929,693 shares during the period. Sanders Morris Harris LLC acquired a new stake in Olaplex during the 1st quarter worth $660,000. Finally, Norden Group LLC acquired a new stake in Olaplex during the 1st quarter worth $563,000. 87.37% of the stock is currently owned by institutional investors.

About Olaplex

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.