Olaplex (NASDAQ:OLPX) Shares Down 4.4%

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price fell 4.4% on Monday . The company traded as low as $1.29 and last traded at $1.29. 956,078 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 2,031,974 shares. The stock had previously closed at $1.35.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OLPX. Piper Sandler raised shares of Olaplex from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $1.25 to $2.00 in a report on Tuesday, March 19th. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a report on Friday, April 5th. Finally, Truist Financial cut their price target on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.59.

Olaplex Stock Performance

The company has a 50-day moving average price of $1.78 and a two-hundred day moving average price of $1.98. The stock has a market capitalization of $833.31 million, a P/E ratio of 14.00 and a beta of 2.28. The company has a quick ratio of 9.21, a current ratio of 10.92 and a debt-to-equity ratio of 0.77.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. The firm had revenue of $111.72 million for the quarter, compared to analysts’ expectations of $108.29 million. During the same period in the prior year, the business posted $0.07 earnings per share. The company’s revenue was down 14.5% on a year-over-year basis. Equities analysts expect that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OLPX. Oak Thistle LLC bought a new position in shares of Olaplex in the third quarter worth approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Olaplex by 99.4% in 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 during the last quarter. Panagora Asset Management Inc. increased its position in shares of Olaplex by 579.2% in 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 during the last quarter. M&T Bank Corp bought a new position in shares of Olaplex in the third quarter worth approximately $36,000. Finally, Victory Capital Management Inc. grew its position in Olaplex by 311.7% during the third quarter. Victory Capital Management Inc. now owns 55,598 shares of the company’s stock valued at $108,000 after acquiring an additional 42,093 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors.

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.