Olaplex (NASDAQ:OLPX) Sees Strong Trading Volume

Olaplex Holdings, Inc. (NASDAQ:OLPX) saw unusually-strong trading volume on Tuesday . Approximately 7,074,174 shares were traded during trading, an increase of 194% from the previous session’s volume of 2,407,227 shares.The stock last traded at $2.39 and had previously closed at $2.29.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Olaplex has an average rating of “Hold” and a consensus target price of $2.18.

Olaplex Price Performance

The company has a 50-day moving average of $2.10 and a 200-day moving average of $1.79. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 32.71 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.

Olaplex (NASDAQ:OLPX) last released its earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $103.90 million for the quarter, compared to analysts’ expectations of $103.65 million. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. As a group, equities research analysts expect that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Olaplex

In other news, Director John P. Bilbrey acquired 183,493 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were bought at an average price of $2.05 per share, for a total transaction of $376,160.65. Following the completion of the purchase, the director now directly owns 241,593 shares of the company’s stock, valued at approximately $495,265.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Olaplex

A number of institutional investors and hedge funds have recently modified their holdings of OLPX. Victory Capital Management Inc. boosted its position in Olaplex by 99.2% during the 4th quarter. Victory Capital Management Inc. now owns 110,754 shares of the company’s stock worth $281,000 after acquiring an additional 55,156 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in Olaplex during the 4th quarter valued at about $46,000. Quadrant Capital Group LLC raised its position in shares of Olaplex by 2,108.4% during 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 in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Olaplex by 17.2% in the 4th quarter. Treasurer of the State of North Carolina now owns 122,783 shares of the company’s stock worth $312,000 after acquiring an additional 18,017 shares during the period. Finally, Aristides Capital LLC bought a new position in shares of Olaplex in the fourth quarter valued at approximately $253,000. 87.37% of the stock is owned by institutional investors and hedge funds.

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.