Deep-pocketed investors have adopted a bearish approach towards e.l.f. Beauty ELF, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ELF usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for e.l.f. Beauty. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 38% leaning bullish and 61% bearish. Among these notable options, 5 are puts, totaling $348,100, and 8 are calls, amounting to $986,067.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $170.0 to $240.0 for e.l.f. Beauty over the recent three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in e.l.f. Beauty's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to e.l.f. Beauty's substantial trades, within a strike price spectrum from $170.0 to $240.0 over the preceding 30 days.
e.l.f. Beauty Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ELF | CALL | SWEEP | BULLISH | 07/19/24 | $6.4 | $5.9 | $6.4 | $210.00 | $324.3K | 203 | 5 |
| ELF | CALL | TRADE | BEARISH | 01/16/26 | $61.3 | $60.5 | $60.65 | $200.00 | $303.2K | 186 | 1 |
| ELF | PUT | TRADE | BULLISH | 09/20/24 | $46.2 | $45.5 | $45.5 | $240.00 | $91.0K | 43 | 0 |
| ELF | PUT | TRADE | BEARISH | 09/20/24 | $45.7 | $44.0 | $45.35 | $240.00 | $90.7K | 43 | 20 |
| ELF | CALL | SWEEP | BEARISH | 01/17/25 | $36.4 | $35.8 | $35.8 | $200.00 | $89.5K | 426 | 0 |
About e.l.f. Beauty
e.l.f. Beauty Inc is a multi-brand beauty company that offers inclusive, accessible, clean, vegan and cruelty-free cosmetics and skin care products. The Company's mission is to make the best of beauty accessible to every eye, lip, face, and skin concern. 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 sales within the US and internationally, out of which maximum revenue is generated from the US.
In light of the recent options history for e.l.f. Beauty, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of e.l.f. Beauty
- With a volume of 810,405, the price of ELF is up 6.69% at $202.26.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 48 days.
What Analysts Are Saying About e.l.f. Beauty
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $199.6.
- Consistent in their evaluation, an analyst from Stifel keeps a Hold rating on e.l.f. Beauty with a target price of $151.
- Maintaining their stance, an analyst from DA Davidson continues to hold a Buy rating for e.l.f. Beauty, targeting a price of $220.
- An analyst from JP Morgan persists with their Overweight rating on e.l.f. Beauty, maintaining a target price of $182.
- An analyst from TD Cowen persists with their Buy rating on e.l.f. Beauty, maintaining a target price of $235.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for e.l.f. Beauty, targeting a price of $210.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for e.l.f. Beauty, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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