Short Interest in Olaplex Holdings, Inc. (NASDAQ:OLPX) Increases By 19.5%

Olaplex Holdings, Inc. (NASDAQ:OLPX) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 17,240,000 shares, a growth of 19.5% from the August 15th total of 14,430,000 shares. Currently, 13.6% of the company’s shares are sold short. Based on an average daily volume of 2,620,000 shares, the short-interest ratio is currently 6.6 days.

Olaplex Stock Performance

OLPX traded up $0.21 during trading on Friday, hitting $2.42. The stock had a trading volume of 2,186,759 shares, compared to its average volume of 2,211,077. Olaplex has a one year low of $1.19 and a one year high of $2.98. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 34.57 and a beta of 2.42. The company has a 50 day moving average price of $1.99 and a 200-day moving average price of $1.77. 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 (NASDAQ:OLPX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $103.90 million during the quarter, compared to analysts’ expectations of $103.65 million. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 EPS. As a group, research analysts predict that Olaplex will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a report on Tuesday, August 6th. TD Cowen raised their target price on shares of Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Olaplex currently has a consensus rating of “Hold” and a consensus price target of $2.18.

Insider Buying and Selling at Olaplex

In other Olaplex news, Director John P. Bilbrey bought 183,493 shares of Olaplex stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the completion of the acquisition, the director now owns 241,593 shares in the company, valued at approximately $495,265.65. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.20% of the company’s stock.

Institutional Trading of Olaplex

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in shares of Olaplex by 42.0% during the second quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock worth $30,317,000 after buying an additional 5,824,889 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Olaplex by 0.6% during the second quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company’s stock worth $3,852,000 after purchasing an additional 14,200 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Olaplex by 20.7% in the second quarter. AQR Capital Management LLC now owns 1,073,878 shares of the company’s stock valued at $1,654,000 after buying an additional 184,091 shares during the period. Finally, Scion Asset Management LLC bought a new position in Olaplex in the 2nd quarter valued at approximately $1,533,000. Institutional investors 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.