Olaplex (NASDAQ:OLPX) Trading Down 4.3% – Should You Sell?

Olaplex Holdings, Inc. (NASDAQ:OLPX) fell 4.3% during trading on Thursday . The company traded as low as $1.66 and last traded at $1.66. 639,126 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 2,352,698 shares. The stock had previously closed at $1.73.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OLPX shares. Barclays reduced their price target on Olaplex from $2.00 to $1.50 and set an “equal weight” rating for the company in a report on Monday, November 11th. Telsey Advisory Group reissued a “market perform” rating and issued a $3.00 target price on shares of Olaplex in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.30.

Olaplex Trading Down 3.6 %

The firm has a market capitalization of $1.08 billion, a P/E ratio of 27.17 and a beta of 2.48. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. The company’s fifty day moving average is $1.90 and its 200-day moving average is $1.97.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The company had revenue of $119.10 million for the quarter, compared to the consensus estimate of $126.51 million. During the same period last year, the business posted $0.05 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Olaplex Holdings, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John P. Bilbrey purchased 51,697 shares of the business’s stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $1.75 per share, with a total value of $90,469.75. Following the acquisition, the director now directly owns 318,418 shares in the company, valued at approximately $557,231.50. The trade was a 19.38 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Olaplex

A number of institutional investors and hedge funds have recently modified their holdings of OLPX. Jane Street Group LLC boosted its stake in Olaplex by 5,728.5% during the third quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock worth $6,188,000 after buying an additional 2,588,216 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Olaplex by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock valued at $8,717,000 after acquiring an additional 468,570 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Olaplex by 29.1% in the second quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock valued at $1,451,000 after acquiring an additional 212,129 shares during the period. Franklin Resources Inc. acquired a new position in Olaplex in the third quarter worth about $664,000. Finally, Scion Asset Management LLC bought a new position in Olaplex during the second quarter worth about $1,533,000. 87.37% of the stock is currently 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.