Deep-pocketed investors have adopted a bullish approach towards e.l.f. Beauty (NYSE: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 9 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 55% leaning bullish and 44% bearish. Among these notable options, 3 are puts, totaling $134,640, and 6 are calls, amounting to $407,477.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $165.0 to $230.0 for e.l.f. Beauty over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for e.l.f. Beauty’s options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of e.l.f. Beauty’s whale activity within a strike price range from $165.0 to $230.0 in the last 30 days.
e.l.f. Beauty Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol |
PUT/CALL |
Trade Type |
Sentiment |
Exp. Date |
Ask |
Bid |
Price |
Strike Price |
Total Trade Price |
Open Interest |
Volume |
| ELF |
CALL |
SWEEP |
BULLISH |
08/16/24 |
$27.4 |
$27.3 |
$27.3 |
$185.00 |
$142.1K |
1 |
55 |
| ELF |
CALL |
SWEEP |
BULLISH |
08/16/24 |
$27.6 |
$27.3 |
$27.44 |
$185.00 |
$123.7K |
1 |
105 |
| ELF |
PUT |
TRADE |
NEUTRAL |
06/21/24 |
$13.4 |
$13.0 |
$13.2 |
$170.00 |
$66.0K |
113 |
22 |
| ELF |
CALL |
SWEEP |
BULLISH |
01/17/25 |
$23.0 |
$22.8 |
$23.0 |
$230.00 |
$46.0K |
56 |
22 |
| ELF |
CALL |
TRADE |
BULLISH |
09/20/24 |
$14.6 |
$14.4 |
$14.6 |
$230.00 |
$43.8K |
138 |
31 |
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 767,111, the ELF’s price is down by -3.53%, now at $185.2.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 50 days.
Professional Analyst Ratings for e.l.f. Beauty
4 market experts have recently issued ratings for this stock, with a consensus target price of $222.5.
- An analyst from DA Davidson downgraded its action to Buy with a price target of $220.
- An analyst from TD Cowen persists with their Market Perform rating on e.l.f. Beauty, maintaining 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.
- Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on e.l.f. Beauty with a target price 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.
