Olaplex (NASDAQ:OLPX) Shares Gap Down to $1.94

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPXGet Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $1.94, but opened at $1.85. Olaplex shares last traded at $1.84, with a volume of 247,006 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OLPX. Piper Sandler upgraded Olaplex from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $1.25 to $2.00 in a research report on Tuesday, March 19th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a research report on Thursday, February 29th. Finally, Truist Financial lowered their price objective on Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Olaplex presently has a consensus rating of “Hold” and a consensus target price of $2.59.

View Our Latest Analysis on Olaplex

Olaplex Stock Down 2.6 %

The stock has a 50-day simple moving average of $2.03 and a two-hundred day simple moving average of $2.03. The company has a quick ratio of 9.21, a current ratio of 10.92 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.25 billion, a PE ratio of 21.56 and a beta of 2.28.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Olaplex by 19.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 13,465,001 shares of the company’s stock valued at $189,722,000 after buying an additional 2,193,104 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Olaplex by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 11,005,310 shares of the company’s stock valued at $27,953,000 after buying an additional 1,366,353 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Olaplex by 34.8% during the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock valued at $20,911,000 after buying an additional 2,124,323 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Olaplex by 142.1% during the first quarter. AQR Capital Management LLC now owns 5,078,963 shares of the company’s stock valued at $20,875,000 after buying an additional 2,980,954 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Olaplex during the fourth quarter valued at about $18,806,000. 87.37% of the stock is owned by institutional investors.

About Olaplex

(Get Free Report)

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.

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