Olaplex Holdings, Inc. (NASDAQ:OLPX) Short Interest Update

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 9,740,000 shares, a decline of 16.6% from the September 30th total of 11,680,000 shares. Based on an average trading volume of 3,000,000 shares, the short-interest ratio is presently 3.2 days. Currently, 7.7% of the shares of the company are sold short.

Olaplex Trading Up 6.4 %

Shares of NASDAQ OLPX traded up $0.13 during midday trading on Monday, hitting $2.15. The stock had a trading volume of 1,204,501 shares, compared to its average volume of 2,385,690. The company has a debt-to-equity ratio of 0.75, a current ratio of 9.27 and a quick ratio of 7.85. Olaplex has a fifty-two week low of $1.19 and a fifty-two week high of $2.98. The firm has a market cap of $1.42 billion, a P/E ratio of 30.71 and a beta of 2.44. The company's 50-day simple moving average is $2.23 and its 200 day simple moving average is $1.87.

Olaplex (NASDAQ:OLPX - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, meeting analysts' consensus estimates of $0.03. The business had revenue of $103.90 million during the quarter, compared to analysts' expectations of $103.65 million. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The firm's quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. Research analysts anticipate that Olaplex will post 0.14 EPS for the current year.

Insider Activity at Olaplex

In other news, Director John P. Bilbrey bought 183,493 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was acquired at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the completion of the purchase, the director now owns 241,593 shares of the company's stock, valued at $495,265.65. This trade represents a 300.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Norden Group LLC bought a new stake in Olaplex in the 1st quarter valued at approximately $563,000. HB Wealth Management LLC grew its holdings in shares of Olaplex by 115.0% in the 1st quarter. HB Wealth Management LLC now owns 29,575 shares of the company's stock valued at $57,000 after acquiring an additional 15,821 shares in the last quarter. Catalina Capital Group LLC acquired a new stake in shares of Olaplex in the first quarter valued at about $31,000. Bleakley Financial Group LLC raised its holdings in Olaplex by 57.8% during the first quarter. Bleakley Financial Group LLC now owns 28,591 shares of the company's stock worth $55,000 after acquiring an additional 10,473 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Olaplex by 8.4% during the first quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company's stock valued at $22,915,000 after purchasing an additional 929,693 shares during the last quarter. 87.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OLPX has been the subject of several recent research reports. TD Cowen increased their price target on shares of Olaplex from $1.80 to $2.00 and gave the stock a "hold" rating in a research report 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 equities research 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 an average rating of "Hold" and a consensus target price of $2.22.

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.