Olaplex (NASDAQ:OLPX) Reaches New 52-Week Low at $1.24

Olaplex Holdings, Inc. (NASDAQ:OLPX) hit a new 52-week low during trading on Tuesday . The stock traded as low as $1.24 and last traded at $1.24, with a volume of 580864 shares changing hands. The stock had previously closed at $1.29.

Wall Street Analysts Forecast Growth

OLPX has been the subject of several recent research reports. Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $1.25 to $2.00 in a research note on Tuesday, March 19th. Truist Financial decreased their target price on Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 target price on shares of Olaplex in a research report on Friday, April 5th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.59.

Olaplex Stock Up 7.1 %

The stock has a market capitalization of $892.84 million, a P/E ratio of 15.00 and a beta of 2.28. The firm’s fifty day moving average is $1.76 and its 200-day moving average is $1.98. The company has a current ratio of 10.92, a quick ratio of 9.21 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 (EPS) for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $111.72 million during the quarter, compared to the consensus estimate of $108.29 million. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The firm’s quarterly revenue was down 14.5% on a year-over-year basis. During the same period last year, the firm posted $0.07 EPS. As a group, equities research analysts predict that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Olaplex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OLPX. Oak Thistle LLC acquired a new stake in shares of Olaplex during the 3rd quarter worth approximately $25,000. Quadrant Capital Group LLC grew its position in shares of Olaplex by 2,108.4% during the 4th quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock worth $26,000 after buying an additional 9,593 shares during the period. Quent Capital LLC grew its position in shares of Olaplex by 2,463.8% during the 4th quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock worth $28,000 after buying an additional 10,742 shares during the period. HB Wealth Management LLC acquired a new stake in shares of Olaplex during the 4th quarter worth approximately $35,000. Finally, M&T Bank Corp acquired a new stake in shares of Olaplex during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 87.37% of the company’s stock.

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.