Olaplex Holdings, Inc. (NASDAQ:OLPX – Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $2.06 and last traded at $2.0550, with a volume of 763088 shares. The stock had previously closed at $2.05.
Analysts Set New Price Targets
OLPX has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a report on Tuesday, April 21st. Barclays upped their price target on Olaplex from $1.75 to $2.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 14th. Zacks Research raised Olaplex from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Morgan Stanley set a $1.40 price target on Olaplex in a report on Tuesday, March 10th. Finally, Northland Securities cut Olaplex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. One 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $1.92.
Check Out Our Latest Stock Analysis on OLPX
Olaplex Stock Up 0.2%
Olaplex (NASDAQ:OLPX – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Olaplex had a positive return on equity of 2.23% and a negative net margin of 3.53%.The business had revenue of $99.37 million during the quarter, compared to analysts’ expectations of $94.11 million. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Olaplex Holdings, Inc. will post 0.09 EPS for the current fiscal year.
Insider Activity
In related news, insider Trisha L. Fox sold 16,324 shares of the 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 approximately $2,170,639.56. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 owned by company insiders.
Institutional Trading of Olaplex
Several hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC purchased a new position in shares of Olaplex during the first quarter worth about $36,000. Headlands Technologies LLC acquired a new stake in shares of Olaplex during the 4th quarter valued at approximately $25,000. Abel Hall LLC acquired a new stake in shares of Olaplex during the 4th quarter valued at approximately $27,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Olaplex during the 3rd quarter worth approximately $30,000. Finally, Optiver Holding B.V. raised its position in shares of Olaplex by 999.5% during the 1st quarter. Optiver Holding B.V. now owns 24,123 shares of the company’s stock worth $49,000 after purchasing an additional 21,929 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors and hedge funds.
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.
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