Olaplex (NASDAQ:OLPX) Shares Down 3.2%

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) traded down 3.2% on Wednesday . The company traded as low as $1.49 and last traded at $1.50. 1,467,641 shares were traded during mid-day trading, a decline of 31% from the average session volume of 2,139,126 shares. The stock had previously closed at $1.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research note on Thursday, May 2nd. Piper Sandler upgraded shares of Olaplex from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $1.25 to $2.00 in a report on Tuesday, March 19th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Olaplex presently has a consensus rating of “Hold” and an average target price of $2.51.

Olaplex Stock Down 6.3 %

The firm has a market cap of $929.83 million, a price-to-earnings ratio of 20.36 and a beta of 2.41. The firm has a fifty day simple moving average of $1.62 and a 200-day simple moving average of $1.88. The company has a debt-to-equity ratio of 0.76, a quick ratio of 9.12 and a current ratio of 10.71.

Olaplex (NASDAQ:OLPX) last posted its earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. Olaplex had a net margin of 10.91% and a return on equity of 11.61%. The company had revenue of $98.90 million during the quarter, compared to analysts’ expectations of $95.15 million. During the same quarter last year, the company posted $0.05 EPS. Olaplex’s quarterly revenue was down 13.1% compared to the same quarter last year. As a group, sell-side analysts expect that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Insider Transactions at Olaplex

In other news, VP Kristi A. Belhumeur sold 42,480 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1.68, for a total transaction of $71,366.40. Following the transaction, the vice president now owns 294,553 shares in the company, valued at $494,849.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

A number of hedge funds have recently bought and sold shares of OLPX. Walleye Trading LLC acquired a new stake in Olaplex during the first quarter worth approximately $53,000. Price T Rowe Associates Inc. MD increased its position in shares of Olaplex by 27.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,957 shares of the company’s stock worth $60,000 after purchasing an additional 6,614 shares during the period. PEAK6 Investments LLC acquired a new position in Olaplex in the first quarter valued at about $232,000. Quadrature Capital Ltd lifted its position in Olaplex by 50.4% during the first quarter. Quadrature Capital Ltd now owns 88,206 shares of the company’s stock worth $170,000 after purchasing an additional 29,545 shares during the period. Finally, Pitcairn Co. grew its stake in Olaplex by 107.5% during the first quarter. Pitcairn Co. now owns 72,023 shares of the company’s stock worth $138,000 after buying an additional 37,308 shares in the last quarter. 87.37% of the stock is owned by institutional investors.

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.