Stock Traders Buy High Volume Olaplex Call Options (NASDAQ: OLPX)

Olaplex Holdings, Inc. (NASDAQ: OLPX – Get Rating) was the target of unusual options trading activity on Wednesday. Stock traders bought 4,164 call options on the stock. This is a 146% increase from the average daily volume of 1,696 call options.

Changes to analyst ratings

OLPX has been the subject of several recent research reports. Raymond James downgraded Olaplex shares from a “strong buy” rating to a “market performance” rating and cut his target price for the company from $20.00 to $15.00 in a research note from the Wednesday, October 19. Cowen cut his price target on Olaplex shares from $22.00 to $10.00 and set an “outperform” rating for the company in a Wednesday, Oct. 19 research note. Truist Financial cut its price target on Olaplex shares from $25.00 to $10.00 and set a “buy” rating for the company in a Wednesday, October 19 research note. Goldman Sachs Group cut its price target on Olaplex shares from $22.00 to $17.00 and set a “buy” rating for the company in a Monday, October 10 research report. Finally, Cowen cut his price target on Olaplex shares from $22.00 to $10.00 and set an “outperform” rating for the company in a Wednesday, October 19 research report. Three research analysts gave the stock a sell rating, four gave the stock a hold rating and five gave the stock a buy rating. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.29.

Olaplex stock up 2.0%

Shares of OLPX traded up $0.09 in midday trading on Wednesday, hitting $4.67. 33,883 shares of the company were traded, against an average volume of 6,320,749. The company has a fifty-day moving average of $8.99 and a two-hundred-day moving average of $12.98. Olaplex has a 12-month low of $3.80 and a 12-month high of $30.41. The stock has a market capitalization of $3.03 billion, a price/earnings ratio of 11.45, a P/E/G ratio of 0.95 and a beta of 1.02. The company has a quick ratio of 3.28, a current ratio of 4.89 and a debt ratio of 0.97.

Olaplex (NASDAQ:OLPX – Get Rating) last reported its quarterly results on Tuesday, August 9. The company reported EPS of $0.14 for the quarter, beating the consensus estimate of $0.13 by $0.01. Olaplex had a net margin of 38.00% and a return on equity of 59.00%. The company posted revenue of $210.90 million for the quarter, versus analyst estimates of $200.34 million. On average, sell-side analysts expect Olaplex to post 0.44 earnings per share for the current year.

Institutional entries and exits

Several hedge funds have recently changed their holdings in OLPX. American International Group Inc. increased its stake in Olaplex shares to 98.6% during the 2nd quarter. American International Group Inc. now owns 1,940 shares of the company worth $27,000 after buying 963 additional shares in the last quarter. Captrust Financial Advisors increased its stake in Olaplex by 156.2% in Q2. Captrust Financial Advisors now owns 1,998 shares of the company valued at $28,000 after buying 1,218 additional shares in the last quarter. First Manhattan Co. increased its stake in Olaplex by 6,000.0% in the 1st quarter. First Manhattan Co. now owns 2,135 shares of the company valued at $33,000 after purchasing an additional 2,100 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Olaplex in Q1 worth $36,000. Finally, High Net Worth Advisory Group LLC acquired a new position in Olaplex in Q1 worth $81,000. Institutional investors and hedge funds hold 92.31% of the company’s shares.

About Olaplex

(Get an assessment)

Olaplex Holdings, Inc. manufactures and sells hair care products. The Company offers shampoos and hair conditioners for the treatment, maintenance and protection of hair. It provides hair care products to professional hair salons, retailers and everyday consumers. The company was founded in 2014 and is based in Santa Barbara, California.

See also

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Olaplex, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Olaplex wasn’t on the list.

While Olaplex currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Comments are closed.