Olaplex (NASDAQ:OLPX) Sees Strong Trading Volume – Time to Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares saw unusually-strong trading volume on Thursday . Approximately 4,330,734 shares changed hands during mid-day trading, an increase of 5% from the previous session’s volume of 4,127,153 shares.The stock last traded at $2.0650 and had previously closed at $2.05.

Wall Street Analyst Weigh In

OLPX has been the subject of several research reports. Zacks Research raised shares of Olaplex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Morgan Stanley set a $1.40 price objective on shares of Olaplex in a research report on Tuesday, March 10th. Barclays upped their target price on shares of Olaplex from $1.75 to $2.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a report on Tuesday, April 21st. Finally, Northland Securities downgraded Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Olaplex currently has an average rating of “Hold” and an average price target of $1.92.

Olaplex Price Performance

The firm’s 50 day simple moving average is $2.04 and its 200-day simple moving average is $1.75. The company has a current ratio of 6.27, a quick ratio of 5.34 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -103.50 and a beta of 1.85.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $99.37 million during 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% on a year-over-year basis. Equities analysts expect that Olaplex Holdings, Inc. will post 0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Olaplex news, insider Trisha L. Fox sold 16,324 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $2.04, for a total value of $33,300.96. Following the completion of the transaction, the insider directly owned 1,064,039 shares in the company, valued at $2,170,639.56. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Olaplex

Several large investors have recently made changes to their positions in the stock. Portolan Capital Management LLC increased its holdings in Olaplex by 132.6% during the third quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock worth $4,762,000 after buying an additional 2,072,383 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Olaplex in the third quarter valued at $30,000. Headlands Technologies LLC acquired a new stake in Olaplex in the fourth quarter valued at $25,000. Hsbc Holdings PLC lifted its stake in Olaplex by 271.7% in the first quarter. Hsbc Holdings PLC now owns 73,882 shares of the company’s stock valued at $150,000 after acquiring an additional 54,003 shares during the last quarter. Finally, Optiver Holding B.V. grew its position in shares of Olaplex by 999.5% in the 1st quarter. Optiver Holding B.V. now owns 24,123 shares of the company’s stock valued at $49,000 after acquiring an additional 21,929 shares during the period. Institutional investors and hedge funds own 87.37% of the company’s stock.

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.