Olaplex (NASDAQ:OLPX) Stock Price Down 7.1% – Here’s What Happened

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

Analyst Ratings Changes

Several research firms have issued reports on OLPX. Northland Securities initiated coverage on Olaplex in a research report on Thursday, November 20th. They set an “outperform” rating and a $2.00 target price on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a research note on Monday. Barclays set a $1.75 price objective on Olaplex in a research report on Friday, January 16th. Wall Street Zen downgraded Olaplex from a “hold” rating to a “sell” rating in a report on Sunday, February 15th. Finally, Jefferies Financial Group began coverage on shares of Olaplex in a research note on Wednesday, January 14th. They set a “hold” rating and a $1.50 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $1.85.

Olaplex Price Performance

The company has a market cap of $1.01 billion, a price-to-earnings ratio of 80.50 and a beta of 2.24. The company has a fifty day simple moving average of $1.54 and a two-hundred day simple moving average of $1.36. The company has a quick ratio of 3.52, a current ratio of 4.16 and a debt-to-equity ratio of 0.40.

Institutional Investors Weigh In On Olaplex

A number of large investors have recently bought and sold shares of the stock. Portolan Capital Management LLC boosted its stake in shares of Olaplex by 132.6% during the third quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock valued at $4,762,000 after acquiring an additional 2,072,383 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Olaplex by 284.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,909,836 shares of the company’s stock valued at $2,559,000 after purchasing an additional 1,413,423 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Olaplex by 1,314.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,508,013 shares of the company’s stock worth $2,111,000 after purchasing an additional 1,401,369 shares during the last quarter. Archon Capital Management LLC grew its holdings in shares of Olaplex by 40.4% during the fourth quarter. Archon Capital Management LLC now owns 4,466,876 shares of the company’s stock worth $5,986,000 after buying an additional 1,284,557 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Olaplex by 56.2% during the second quarter. Bridgeway Capital Management LLC now owns 2,629,139 shares of the company’s stock valued at $3,681,000 after buying an additional 946,265 shares during the period. Institutional investors and hedge funds own 87.37% of the company’s stock.

Olaplex Company Profile

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.