Short Interest in Olaplex Holdings, Inc. (NASDAQ:OLPX) Expands By 19.5%

Olaplex Holdings, Inc. (NASDAQ:OLPX) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 17,240,000 shares, a growth of 19.5% from the August 15th total of 14,430,000 shares. Based on an average daily volume of 2,620,000 shares, the days-to-cover ratio is currently 6.6 days. Approximately 13.6% of the company’s stock are short sold.

Olaplex Stock Performance

NASDAQ OLPX traded up $0.10 during trading hours on Tuesday, reaching $2.48. 2,753,585 shares of the company were exchanged, compared to its average volume of 2,211,936. The company has a quick ratio of 7.85, a current ratio of 9.27 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $1.64 billion, a P/E ratio of 35.43 and a beta of 2.42. Olaplex has a 1 year low of $1.19 and a 1 year high of $2.98. The business’s 50 day simple moving average is $2.01 and its 200-day simple moving average is $1.77.

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

Insiders Place Their Bets

In other news, Director John P. Bilbrey purchased 183,493 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average cost of $2.05 per share, with a total value of $376,160.65. Following the purchase, the director now owns 241,593 shares in the company, valued at $495,265.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OLPX. Quadrant Capital Group LLC boosted its holdings in Olaplex by 2,108.4% in the 4th quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock worth $26,000 after buying an additional 9,593 shares during the period. Catalina Capital Group LLC purchased a new stake in shares of Olaplex in the first quarter worth $31,000. Quarry LP purchased a new stake in shares of Olaplex in the 2nd quarter valued at about $33,000. Vanguard Personalized Indexing Management LLC boosted its position 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 valued at $40,000 after acquiring an additional 7,235 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Olaplex during the second quarter worth about $43,000. Institutional investors own 87.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 target price on shares of Olaplex in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.18.

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.