Olaplex (NASDAQ:OLPX) Stock Price Down 3.9% – Here’s What Happened

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price fell 3.9% during trading on Monday . The company traded as low as $2.19 and last traded at $2.20. 156,671 shares were traded during trading, a decline of 94% from the average session volume of 2,414,410 shares. The stock had previously closed at $2.29.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OLPX. TD Cowen lifted their price target on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 target price on shares of Olaplex in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.22.

Olaplex Stock Down 3.1 %

The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 31.43 and a beta of 2.44. The business has a fifty day simple moving average of $2.20 and a 200 day simple moving average of $1.84. The company has a debt-to-equity ratio of 0.75, a current ratio of 9.27 and a quick ratio of 7.85.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The firm had revenue of $103.90 million during the quarter, compared to the consensus estimate of $103.65 million. During the same period in the prior year, the company earned $0.03 EPS. The firm’s revenue was down 4.9% compared to the same quarter last year. As a group, equities analysts forecast that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Olaplex news, Director John P. Bilbrey acquired 183,493 shares of the business’s stock in a transaction on Monday, August 19th. The stock was bought at an average price of $2.05 per share, for a total transaction of $376,160.65. Following the acquisition, the director now owns 241,593 shares in the company, valued at approximately $495,265.65. The trade was a 300.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Olaplex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. increased its position in Olaplex by 42.0% during the second quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock worth $30,317,000 after purchasing an additional 5,824,889 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Olaplex by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock worth $22,915,000 after buying an additional 929,693 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Olaplex by 0.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company’s stock valued at $3,852,000 after buying an additional 14,200 shares during the period. AQR Capital Management LLC lifted its holdings in Olaplex by 20.7% in the second quarter. AQR Capital Management LLC now owns 1,073,878 shares of the company’s stock valued at $1,654,000 after acquiring an additional 184,091 shares during the last quarter. Finally, Scion Asset Management LLC purchased a new position in Olaplex in the second quarter worth approximately $1,533,000. 87.37% of the stock is owned by institutional investors and hedge funds.

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.