Olaplex (NASDAQ:OLPX) Shares Gap Up to $1.34

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares gapped up prior to trading on Monday . The stock had previously closed at $1.34, but opened at $1.40. Olaplex shares last traded at $1.38, with a volume of 93,985 shares traded.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OLPX. Truist Financial lowered their price objective on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Piper Sandler raised shares of Olaplex from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $1.25 to $2.00 in a research note on Tuesday, March 19th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.59.

Olaplex Stock Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 10.92 and a quick ratio of 9.21. The firm has a market capitalization of $915.98 million, a price-to-earnings ratio of 14.89 and a beta of 2.28. The firm’s fifty day moving average is $1.73 and its 200 day moving average is $1.97.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $111.72 million during the quarter, compared to analysts’ expectations of $108.29 million. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The firm’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. On average, analysts predict that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Olaplex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new position in Olaplex during the fourth quarter valued at approximately $3,996,000. Pacer Advisors Inc. raised its position in shares of Olaplex by 34.8% in the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock valued at $20,911,000 after purchasing an additional 2,124,323 shares during the period. Vanguard Group Inc. raised its position in shares of Olaplex by 8.9% in the third quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock valued at $18,796,000 after purchasing an additional 787,242 shares during the period. Dark Forest Capital Management LP bought a new position in shares of Olaplex in the third quarter valued at approximately $82,000. Finally, Quadrature Capital Ltd raised its position in shares of Olaplex by 34.6% in the third quarter. Quadrature Capital Ltd now owns 74,057 shares of the company’s stock valued at $145,000 after purchasing an additional 19,019 shares during the period. Institutional investors own 87.37% of the company’s stock.

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.