Olaplex (NASDAQ:OLPX) Shares Down 4.4%

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price was down 4.4% during mid-day trading on Monday . The stock traded as low as $1.29 and last traded at $1.29. Approximately 956,078 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 2,031,974 shares. The stock had previously closed at $1.35.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on OLPX shares. Telsey Advisory Group restated a “market perform” rating and set a $2.00 target price on shares of Olaplex in a report on Friday, April 5th. Piper Sandler upgraded shares of Olaplex from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $1.25 to $2.00 in a report on Tuesday, March 19th. Finally, Truist Financial reduced their target price on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Olaplex has a consensus rating of “Hold” and an average target price of $2.59.

Olaplex Stock Down 2.3 %

The firm has a market cap of $833.31 million, a P/E ratio of 14.00 and a beta of 2.28. The business’s fifty day moving average price is $1.78 and its two-hundred day moving average price is $1.98. The company has a current ratio of 10.92, a quick ratio of 9.21 and a debt-to-equity ratio of 0.77.

Olaplex (NASDAQ:OLPX) last posted its earnings results on Thursday, February 29th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The business had revenue of $111.72 million for the quarter, compared to analyst estimates of $108.29 million. During the same period last year, the business posted $0.07 EPS. Olaplex’s revenue was down 14.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OLPX. State of Alaska Department of Revenue acquired a new stake in Olaplex in the 4th quarter worth $3,996,000. Pacer Advisors Inc. grew its position in Olaplex by 34.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock worth $20,911,000 after purchasing an additional 2,124,323 shares during the last quarter. Vanguard Group Inc. grew its position in Olaplex by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock worth $18,796,000 after purchasing an additional 787,242 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Olaplex during the 3rd quarter worth about $82,000. Finally, Quadrature Capital Ltd lifted its holdings in shares of Olaplex by 34.6% during the 3rd quarter. Quadrature Capital Ltd now owns 74,057 shares of the company’s stock worth $145,000 after acquiring an additional 19,019 shares during the period. 87.37% of the stock is currently owned by institutional investors and hedge funds.

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.