Olaplex (NASDAQ:OLPX) Trading 6.7% Higher – Still a Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price was up 6.7% during trading on Monday . The stock traded as high as $2.06 and last traded at $2.06. Approximately 626,751 shares traded hands during trading, a decline of 74% from the average daily volume of 2,411,249 shares. The stock had previously closed at $1.93.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OLPX shares. Telsey Advisory Group reissued a “market perform” rating and set a $3.00 target price on shares of Olaplex in a report on Thursday, November 7th. Barclays dropped their target price on Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, TD Cowen boosted their target price on Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.30.

Olaplex Stock Performance

The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 34.34 and a beta of 2.48. The company’s 50-day simple moving average is $2.03 and its 200-day simple moving average is $1.94.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. The firm had revenue of $119.10 million for the quarter, compared to analysts’ expectations of $126.51 million. During the same period in the previous year, the company posted $0.05 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts predict that Olaplex Holdings, Inc. will post 0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John P. Bilbrey purchased 51,697 shares of the stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $1.75 per share, for a total transaction of $90,469.75. Following the acquisition, the director now directly owns 318,418 shares in the company, valued at approximately $557,231.50. The trade was a 19.38 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Several institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. purchased a new position in shares of Olaplex during the 3rd quarter valued at $664,000. Geode Capital Management LLC lifted its stake in shares of Olaplex by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock valued at $8,717,000 after purchasing an additional 468,570 shares during the last quarter. Abel Hall LLC lifted its stake in shares of Olaplex by 68.1% in the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock valued at $43,000 after purchasing an additional 7,397 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Olaplex by 981.5% in the 3rd quarter. XTX Topco Ltd now owns 127,407 shares of the company’s stock valued at $299,000 after purchasing an additional 115,626 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Olaplex by 5,728.5% in the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock valued at $6,188,000 after purchasing an additional 2,588,216 shares during the last quarter. 87.37% of the stock is currently owned by hedge funds and other 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.