Olaplex (NASDAQ:OLPX) Sees Strong Trading Volume

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) saw strong 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 analysts have weighed in on the company. Telsey Advisory Group reissued a "market perform" rating and set a $2.00 price objective on shares of Olaplex in a report on Tuesday, August 6th. TD Cowen boosted their price objective on Olaplex from $1.80 to $2.00 and gave the stock a "hold" rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $2.18.

Olaplex Price Performance

The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 33.29 and a beta of 2.42. The company has a 50-day moving average price of $2.11 and a 200-day moving average price of $1.80. The company has a debt-to-equity ratio of 0.75, a quick ratio of 7.85 and a current ratio of 9.27.

Olaplex (NASDAQ:OLPX - Get Free Report) last issued 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. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The business had revenue of $103.90 million during the quarter, compared to analyst estimates of $103.65 million. During the same period in the previous year, the firm earned $0.03 EPS. Olaplex's quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts expect that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Insider Activity at Olaplex

In other Olaplex news, Director John P. Bilbrey acquired 183,493 shares of the firm'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 transaction, the director now owns 241,593 shares of the company's stock, valued at $495,265.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Olaplex

A number of large investors have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in Olaplex by 42.0% during the 2nd quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company's stock worth $30,317,000 after acquiring an additional 5,824,889 shares during the last quarter. Vanguard Group Inc. boosted 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 acquiring an additional 929,693 shares during the last quarter. Renaissance Technologies LLC boosted its position in Olaplex by 0.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company's stock worth $3,852,000 after acquiring an additional 14,200 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Olaplex by 20.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,073,878 shares of the company's stock worth $1,654,000 after purchasing an additional 184,091 shares in the last quarter. Finally, Scion Asset Management LLC bought a new stake in shares of Olaplex during the 2nd quarter worth approximately $1,533,000. Institutional investors and hedge funds 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.