Olaplex (NASDAQ:OLPX) Hits New 12-Month High – Time to Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $2.05 and last traded at $2.04, with a volume of 122014 shares trading hands. The stock had previously closed at $2.05.

Wall Street Analyst Weigh In

OLPX has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Olaplex from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Evercore set a $2.50 price objective on shares of Olaplex in a report on Friday, March 6th. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a report on Tuesday, April 21st. Finally, Jefferies Financial Group restated a “buy” rating on shares of Olaplex in a report on Wednesday, March 4th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Olaplex presently has a consensus rating of “Hold” and an average target price of $1.92.

Olaplex Trading Down 0.7%

The stock’s 50-day simple moving average is $1.93 and its 200-day simple moving average is $1.58. The firm has a market capitalization of $1.37 billion, a PE ratio of -102.25 and a beta of 1.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.34 and a current ratio of 6.27.

Olaplex (NASDAQ:OLPX) last released its earnings results on Monday, May 11th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $99.37 million for the quarter, compared to the consensus estimate of $94.11 million. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. Olaplex’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Olaplex Holdings, Inc. will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling at Olaplex

In other Olaplex news, General Counsel John C. Duffy sold 34,962 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $44,052.12. Following the transaction, the general counsel owned 982,855 shares in the company, valued at approximately $1,238,397.30. This represents a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Trisha L. Fox sold 26,426 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $1.26, for a total transaction of $33,296.76. Following the transaction, the insider owned 721,169 shares in the company, valued at $908,672.94. This represents a 3.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 231,766 shares of company stock worth $304,758. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Olaplex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in Olaplex during the 1st quarter worth approximately $576,000. Jane Street Group LLC grew its holdings in Olaplex by 151.8% during the 1st quarter. Jane Street Group LLC now owns 88,321 shares of the company’s stock valued at $112,000 after buying an additional 258,873 shares in the last quarter. Creative Planning grew its holdings in Olaplex by 35.0% during the 2nd quarter. Creative Planning now owns 37,357 shares of the company’s stock valued at $52,000 after buying an additional 9,690 shares in the last quarter. Norges Bank purchased a new stake in Olaplex during the 2nd quarter valued at approximately $105,000. Finally, Marshall Wace LLP grew its holdings in Olaplex by 121.4% during the 2nd quarter. Marshall Wace LLP now owns 346,347 shares of the company’s stock valued at $485,000 after buying an additional 189,947 shares in the last quarter. 87.37% of the stock is owned by hedge funds and other institutional investors.

About Olaplex

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.