Olaplex (NASDAQ:OLPX) Stock Price Down 6.3% – What’s Next?

Olaplex Holdings, Inc. (NASDAQ:OLPX) dropped 6.3% during trading on Tuesday . The company traded as low as $1.28 and last traded at $1.27. Approximately 450,100 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 2,193,005 shares. The stock had previously closed at $1.35.

Analyst Ratings Changes

Several brokerages have recently issued reports on OLPX. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a report on Wednesday, March 12th. Barclays upped their price objective on Olaplex from $1.50 to $1.70 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Finally, Piper Sandler upped their price objective on Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a report on Monday, January 6th.

Olaplex Trading Down 0.4 %

The stock has a market cap of $880.62 million, a P/E ratio of 22.09 and a beta of 2.44. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $1.50 and a two-hundred day moving average price of $1.85.

Insider Activity

In other news, General Counsel John C. Duffy sold 35,013 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $1.44, for a total transaction of $50,418.72. Following the transaction, the general counsel now owns 348,630 shares of the company’s stock, valued at approximately $502,027.20. The trade was a 9.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Trisha L. Fox sold 26,526 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $38,197.44. Following the completion of the transaction, the insider now directly owns 461,548 shares in the company, valued at $664,629.12. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Hedge funds have recently bought and sold shares of the business. Abel Hall LLC grew its position in shares of Olaplex by 68.1% during the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock worth $43,000 after buying an additional 7,397 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Olaplex by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company’s stock worth $1,861,000 after purchasing an additional 9,661 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in shares of Olaplex by 23.6% during the 4th quarter. Belpointe Asset Management LLC now owns 61,461 shares of the company’s stock worth $106,000 after purchasing an additional 11,724 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Olaplex by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 39,052 shares of the company’s stock worth $68,000 after purchasing an additional 12,852 shares during the last quarter. Finally, Chemistry Wealth Management LLC purchased a new stake in shares of Olaplex during the 4th quarter worth $25,000. Institutional investors own 87.37% of the company’s stock.

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.