Olaplex (NASDAQ:OLPX) Trading Down 5.2% – Here’s Why

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price traded down 5.2% on Tuesday . The company traded as low as $1.98 and last traded at $2.00. 724,612 shares were traded during mid-day trading, a decline of 70% from the average session volume of 2,422,033 shares. The stock had previously closed at $2.11.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OLPX. Telsey Advisory Group reissued a “market perform” rating and set a $3.00 price target on shares of Olaplex in a report on Thursday, November 7th. TD Cowen increased their target price on shares of Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Barclays reduced their target price on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Olaplex currently has a consensus rating of “Hold” and a consensus target price of $2.30.

Olaplex Stock Up 1.0 %

The firm has a market cap of $1.35 billion, a PE ratio of 34.01 and a beta of 2.47. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84. The firm’s 50-day moving average price is $2.07 and its two-hundred day moving average price is $1.93.

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

Insider Transactions at Olaplex

In other Olaplex news, Director John P. Bilbrey bought 25,128 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $1.76 per share, with a total value of $44,225.28. Following the acquisition, the director now directly owns 266,721 shares of the company’s stock, valued at $469,428.96. The trade was a 10.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Olaplex by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock valued at $22,915,000 after acquiring an additional 929,693 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Olaplex by 29.1% in the 2nd 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. Scion Asset Management LLC acquired a new position in shares of Olaplex in the 2nd quarter valued at $1,533,000. Quadrature Capital Ltd increased its holdings in shares of Olaplex by 50.4% in the 1st quarter. Quadrature Capital Ltd now owns 88,206 shares of the company’s stock valued at $170,000 after acquiring an additional 29,545 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Olaplex by 126.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 80,843 shares of the company’s stock valued at $124,000 after acquiring an additional 45,133 shares during the period. 87.37% of the stock is 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.