Olaplex (NASDAQ:OLPX) Reaches New 52-Week Low at $1.24

Olaplex Holdings, Inc. (NASDAQ:OLPX) reached a new 52-week low during trading on Tuesday . The company traded as low as $1.24 and last traded at $1.24, with a volume of 580864 shares. The stock had previously closed at $1.29.

Analyst Ratings Changes

A number of research firms have recently commented on OLPX. Truist Financial lowered their target price on Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a report on Friday, April 5th. Finally, Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $1.25 to $2.00 in a report on Tuesday, March 19th. Seven investment 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.com, Olaplex currently has a consensus rating of “Hold” and a consensus price target of $2.59.

Olaplex Stock Up 7.1 %

The company has a current ratio of 10.92, a quick ratio of 9.21 and a debt-to-equity ratio of 0.77. The firm has a market cap of $892.84 million, a PE ratio of 15.00 and a beta of 2.28. The stock has a fifty day simple moving average of $1.76 and a two-hundred day simple moving average of $1.98.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of OLPX. Oak Thistle LLC purchased a new position in shares of Olaplex during the third quarter worth about $25,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Olaplex by 99.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,895 shares of the company’s stock worth $80,000 after purchasing an additional 20,383 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Olaplex by 579.2% during the third quarter. Panagora Asset Management Inc. now owns 296,499 shares of the company’s stock worth $578,000 after purchasing an additional 252,848 shares in the last quarter. M&T Bank Corp purchased a new position in shares of Olaplex during the third quarter worth about $36,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Olaplex by 311.7% during the third quarter. Victory Capital Management Inc. now owns 55,598 shares of the company’s stock worth $108,000 after purchasing an additional 42,093 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Olaplex Company Profile

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.