Olaplex (NASDAQ:OLPX) Stock Price Up 5.4% - Here's What Happened

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) shot up 5.4% on Monday . The company traded as high as $1.28 and last traded at $1.27. 237,714 shares changed hands during trading, a decline of 89% from the average session volume of 2,221,238 shares. The stock had previously closed at $1.20.

Wall Street Analysts Forecast Growth

OLPX has been the subject of a number of recent research reports. Telsey Advisory Group reiterated a "market perform" rating and issued a $2.00 target price on shares of Olaplex in a report on Wednesday, March 12th. Piper Sandler raised their target price on shares of Olaplex from $1.50 to $2.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Finally, Barclays increased their price objective on Olaplex from $1.50 to $1.70 and gave the company an "equal weight" rating in a report on Wednesday, March 5th.

Olaplex Stock Performance

The firm has a 50-day moving average of $1.34 and a 200-day moving average of $1.68. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $810.84 million, a price-to-earnings ratio of 20.34 and a beta of 2.39.

Insider Buying and Selling

In other Olaplex news, insider Trisha L. Fox sold 26,526 shares of Olaplex stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $38,197.44. Following the completion of the transaction, the insider now owns 461,548 shares of the company's stock, valued at approximately $664,629.12. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel John C. Duffy sold 35,013 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $1.44, for a total transaction of $50,418.72. Following the sale, the general counsel now directly owns 348,630 shares in the company, valued at approximately $502,027.20. The trade was a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,269 shares of company stock valued at $103,161 over the last quarter. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Olaplex

Several institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in Olaplex by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company's stock worth $1,861,000 after buying an additional 9,661 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of Olaplex by 23.6% during the fourth quarter. Belpointe Asset Management LLC now owns 61,461 shares of the company's stock worth $106,000 after purchasing an additional 11,724 shares in the last quarter. ProShare Advisors LLC raised its stake in Olaplex by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 39,052 shares of the company's stock valued at $68,000 after purchasing an additional 12,852 shares during the last quarter. Chemistry Wealth Management LLC purchased a new position in Olaplex in the 4th quarter valued at $25,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Olaplex by 290.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company's stock worth $37,000 after buying an additional 15,911 shares in the last quarter. 87.37% of the stock is owned by institutional investors and hedge funds.

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.