e.l.f. Beauty Options Trading: A Deep Dive into Market Sentiment

Investors with a lot of money to spend have taken a bearish stance on e.l.f. Beauty ELF.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ELF, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 13 uncommon options trades for e.l.f. Beauty.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 69%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $55,400, and 11 are calls, for a total amount of $1,438,450.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $270.0 for e.l.f. Beauty over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of e.l.f. Beauty stands at 89.08, with a total volume reaching 96.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in e.l.f. Beauty, situated within the strike price corridor from $100.0 to $270.0, throughout the last 30 days.

e.l.f. Beauty Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

About e.l.f. Beauty

e.l.f. Beauty Inc is a cosmetic company based in the United States. The company offers cosmetic accessories for women which include eyeliner, mascara, false eyelashes, lipstick, the foundation for the face, moisturizer, cleanser, and other tools through its stores and e-commerce channels. The products that the company sells are marketed under the e.l.f. Cosmetics, W3LL PEOPLE and Keys Soulcare brands. It carries out the sales within the US and internationally, out of which maximum revenue is generated from the US.

Following our analysis of the options activities associated with e.l.f. Beauty, we pivot to a closer look at the company's own performance.

Current Position of e.l.f. Beauty

• Currently trading with a volume of 562,488, the ELF's price is up by 0.77%, now at $208.0.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 69 days.

What The Experts Say On e.l.f. Beauty

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $223.0.

• An analyst from Piper Sandler persists with their Overweight rating on e.l.f. Beauty, maintaining a target price of $225.
• In a cautious move, an analyst from DA Davidson downgraded its rating to Buy, setting a price target of $220.
• Consistent in their evaluation, an analyst from TD Cowen keeps a Market Perform rating on e.l.f. Beauty with a target price of $220.
• An analyst from B of A Securities persists with their Buy rating on e.l.f. Beauty, maintaining a target price of $230.
• In a cautious move, an analyst from DA Davidson downgraded its rating to Buy, setting a price target of $220.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for e.l.f. Beauty with Benzinga Pro for real-time alerts.