Olaplex (NASDAQ:OLPX) Stock Price Down 7.1% – What’s Next?

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) dropped 7.1% during mid-day trading on Monday . The stock traded as low as $1.4950 and last traded at $1.4950. Approximately 986,613 shares changed hands during trading, a decline of 35% from the average daily volume of 1,516,555 shares. The stock had previously closed at $1.61.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Olaplex from a “hold” rating to a “sell” rating in a report on Sunday, February 15th. Jefferies Financial Group initiated coverage on shares of Olaplex in a research report on Wednesday, January 14th. They set a “hold” rating and a $1.50 price target for the company. Northland Securities started coverage on shares of Olaplex in a report on Thursday, November 20th. They issued an “outperform” rating and a $2.00 price target on the stock. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $2.00 price target on shares of Olaplex in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $1.85.

Olaplex Stock Down 5.6%

The firm has a 50-day simple moving average of $1.54 and a 200 day simple moving average of $1.36. The company has a market capitalization of $1.01 billion, a PE ratio of 80.50 and a beta of 2.24. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.16 and a quick ratio of 3.52.

Hedge Funds Weigh In On Olaplex

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in Olaplex in the 4th quarter worth approximately $25,000. Chilton Capital Management LLC acquired a new position in shares of Olaplex during the third quarter worth $26,000. Abel Hall LLC purchased a new position in shares of Olaplex in the fourth quarter valued at $27,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Olaplex in the third quarter valued at $30,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Olaplex during the 3rd quarter valued at $32,000. 87.37% of the stock is owned by institutional investors and hedge funds.

About Olaplex

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.