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

Olaplex Holdings, Inc. (NASDAQ:OLPXGet Rating) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 13,490,000 shares, a growth of 23.6% from the March 15th total of 10,910,000 shares. Based on an average trading volume of 2,460,000 shares, the days-to-cover ratio is presently 5.5 days. Approximately 10.9% of the company’s stock are short sold.

Shares of OLPX stock traded up $0.51 during midday trading on Tuesday, hitting $15.47. 8,949 shares of the company were exchanged, compared to its average volume of 2,363,149. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.25 and a current ratio of 4.60. The firm’s 50 day moving average price is $16.43 and its two-hundred day moving average price is $22.21. Olaplex has a 52 week low of $12.88 and a 52 week high of $30.41.

Olaplex (NASDAQ:OLPXGet Rating) last announced its earnings results on Tuesday, March 8th. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $166.50 million for the quarter, compared to the consensus estimate of $157.06 million. The firm’s revenue for the quarter was up 78.6% on a year-over-year basis. On average, sell-side analysts predict that Olaplex will post 0.54 earnings per share for the current year.

In related news, CFO Eric Tiziani acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 10th. The shares were acquired at an average cost of $14.78 per share, with a total value of $295,600.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Several hedge funds have recently made changes to their positions in OLPX. Norges Bank bought a new stake in Olaplex in the 4th quarter valued at about $225,203,000. BlackRock Inc. boosted its holdings in Olaplex by 116.9% in the 4th quarter. BlackRock Inc. now owns 13,343,209 shares of the company’s stock valued at $388,687,000 after purchasing an additional 7,191,223 shares during the period. Janus Henderson Group PLC bought a new stake in Olaplex in the 3rd quarter valued at about $109,020,000. Citadel Advisors LLC bought a new stake in Olaplex in the 3rd quarter valued at about $102,712,000. Finally, Viking Global Investors LP bought a new stake in Olaplex in the 3rd quarter valued at about $74,048,000. 89.93% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on OLPX. Jefferies Financial Group raised shares of Olaplex from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Wednesday, February 23rd. Barclays upgraded shares of Olaplex from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $29.00 to $17.00 in a research note on Wednesday, March 9th. Piper Sandler lowered their price target on shares of Olaplex from $36.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday. Raymond James lowered their price target on shares of Olaplex from $28.00 to $24.00 and set a “strong-buy” rating on the stock in a research note on Monday. Finally, Zacks Investment Research lowered shares of Olaplex from a “buy” rating to a “hold” rating in a research note on Friday, February 25th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $31.08.

Olaplex Company Profile (Get Rating)

Olaplex Holdings, Inc manufactures and sells hair care products. The company offers hair care shampoos and conditioners for use in 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.

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