Olaplex (NASDAQ:OLPX) Shares Gap Down – Here’s Why

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $1.68, but opened at $1.64. Olaplex shares last traded at $1.67, with a volume of 606,947 shares changing hands.

Wall Street Analysts Forecast Growth

OLPX has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on shares of Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Barclays upped their target price on shares of Olaplex from $1.50 to $1.70 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a research note on Tuesday.

Olaplex Trading Down 1.5 %

The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32. The business’s fifty day simple moving average is $1.55 and its 200 day simple moving average is $1.90. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 27.59 and a beta of 2.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Abel Hall LLC lifted its holdings in shares of Olaplex by 68.1% in the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock worth $43,000 after purchasing an additional 7,397 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Olaplex by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company’s stock valued at $1,861,000 after buying an additional 9,661 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in Olaplex by 23.6% in the fourth quarter. Belpointe Asset Management LLC now owns 61,461 shares of the company’s stock valued at $106,000 after buying an additional 11,724 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Olaplex by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 39,052 shares of the company’s stock valued at $68,000 after acquiring an additional 12,852 shares during the period. Finally, Chemistry Wealth Management LLC bought a new position in shares of Olaplex during the fourth quarter worth about $25,000. 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.