Olaplex Holdings, Inc. (NASDAQ:OLPX) Sees Significant Decline in Short Interest

Olaplex Holdings, Inc. (NASDAQ:OLPX) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 11,680,000 shares, a decrease of 29.0% from the September 15th total of 16,440,000 shares. Approximately 9.2% of the company’s stock are sold short. Based on an average daily volume of 3,040,000 shares, the short-interest ratio is currently 3.8 days.

Analyst Upgrades and Downgrades

OLPX has been the topic of a number of recent research reports. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a research note on Tuesday, August 6th. TD Cowen increased their price objective on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.22.

Olaplex Price Performance

NASDAQ OLPX traded up $0.05 during trading on Friday, hitting $2.29. 740,457 shares of the stock traded hands, compared to its average volume of 2,425,870. The company has a market capitalization of $1.52 billion, a P/E ratio of 32.71 and a beta of 2.44. The firm has a 50-day simple moving average of $2.20 and a 200-day simple moving average of $1.84. The company has a quick ratio of 7.85, a current ratio of 9.27 and a debt-to-equity ratio of 0.75. Olaplex has a 12-month low of $1.19 and a 12-month high of $2.98.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $103.90 million during the quarter, compared to analysts’ expectations of $103.65 million. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. As a group, analysts predict that Olaplex will post 0.14 EPS for the current year.

Insider Buying and Selling

In other news, Director John P. Bilbrey purchased 183,493 shares of Olaplex stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average cost of $2.05 per share, with a total value of $376,160.65. Following the completion of the purchase, the director now directly owns 241,593 shares in the company, valued at approximately $495,265.65. This trade represents a 300.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is owned by insiders.

Institutional Trading of Olaplex

A number of institutional investors have recently bought and sold shares of OLPX. Price T Rowe Associates Inc. MD lifted its holdings in shares of Olaplex by 27.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,957 shares of the company’s stock worth $60,000 after acquiring an additional 6,614 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Olaplex by 38.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock worth $40,000 after purchasing an additional 7,235 shares during the period. Catalina Capital Group LLC boosted its stake in shares of Olaplex by 51.3% during the 2nd quarter. Catalina Capital Group LLC now owns 24,088 shares of the company’s stock worth $37,000 after purchasing an additional 8,172 shares during the period. Sanders Morris Harris LLC boosted its stake in shares of Olaplex by 2.9% during the 3rd quarter. Sanders Morris Harris LLC now owns 354,000 shares of the company’s stock worth $832,000 after purchasing an additional 10,000 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in shares of Olaplex by 57.8% during 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. 87.37% of the stock is currently owned by institutional investors.

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.