Olaplex (NASDAQ:OLPX) Sees Unusually-High Trading Volume

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) saw an uptick in trading volume on Tuesday . 7,074,174 shares changed hands 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 research firms have recently commented on OLPX. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a report on Tuesday, August 6th. TD Cowen boosted their target price on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Olaplex presently has a consensus rating of “Hold” and an average target price of $2.18.

Olaplex Stock Performance

The company has a current ratio of 9.27, a quick ratio of 7.85 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $1.55 billion, a PE ratio of 32.71 and a beta of 2.42. The business’s 50 day simple moving average is $2.10 and its two-hundred day simple moving average is $1.79.

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

Insider Transactions at Olaplex

In other Olaplex news, Director John P. Bilbrey acquired 183,493 shares of the business’s stock in a transaction on Monday, August 19th. The shares were bought at an average price of $2.05 per share, with a total value of $376,160.65. Following the transaction, the director now directly owns 241,593 shares of the company’s stock, valued at approximately $495,265.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Olaplex

A number of large investors have recently modified their holdings of OLPX. Pacer Advisors Inc. lifted its stake in Olaplex by 42.0% during the 2nd quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock valued at $30,317,000 after acquiring an additional 5,824,889 shares during the period. Vanguard Group Inc. grew its position in Olaplex by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock worth $22,915,000 after purchasing an additional 929,693 shares during the period. Renaissance Technologies LLC raised its stake in shares of Olaplex by 0.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company’s stock valued at $3,852,000 after buying an additional 14,200 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Olaplex by 20.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,073,878 shares of the company’s stock valued at $1,654,000 after buying an additional 184,091 shares during the period. Finally, Scion Asset Management LLC acquired a new position in shares of Olaplex in the second quarter worth about $1,533,000. Hedge funds and other institutional investors own 87.37% of the company’s stock.

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.