Olaplex (NASDAQ:OLPX) Shares Gap Up – Here’s Why

Olaplex Holdings, Inc. (NASDAQ:OLPX) gapped up before the market opened on Monday . The stock had previously closed at $2.34, but opened at $2.42. Olaplex shares last traded at $2.27, with a volume of 293,393 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen upped their price target on Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.22.

Olaplex Trading Up 0.4 %

The stock has a market cap of $1.48 billion, a PE ratio of 32.00 and a beta of 2.44. The company has a quick ratio of 7.85, a current ratio of 9.27 and a debt-to-equity ratio of 0.75. The stock’s fifty day moving average price is $2.18 and its 200 day moving average price is $1.83.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting 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 return on equity of 11.16% and a net margin of 10.95%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. On average, sell-side analysts forecast that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Insider Buying and Selling

In other Olaplex news, Director John P. Bilbrey bought 183,493 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was acquired at an average price of $2.05 per share, with a total value of $376,160.65. Following the transaction, the director now owns 241,593 shares in the company, valued at $495,265.65. This represents a 300.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Olaplex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in Olaplex by 27.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,957 shares of the company’s stock valued at $60,000 after buying an additional 6,614 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Olaplex by 38.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock valued at $40,000 after acquiring an additional 7,235 shares during the period. Catalina Capital Group LLC increased its stake in shares of Olaplex by 51.3% in the 2nd quarter. Catalina Capital Group LLC now owns 24,088 shares of the company’s stock worth $37,000 after purchasing an additional 8,172 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Olaplex by 57.8% in the 1st quarter. Bleakley Financial Group LLC now owns 28,591 shares of the company’s stock worth $55,000 after purchasing an additional 10,473 shares during the period. Finally, Paragon Capital Management Inc. lifted its position in Olaplex by 40.7% during the second quarter. Paragon Capital Management Inc. now owns 45,638 shares of the company’s stock valued at $70,000 after purchasing an additional 13,206 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

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.