Olaplex (NASDAQ:OLPX) Shares Gap Down to $1.38

Olaplex Holdings, Inc. (NASDAQ:OLPX) gapped down before the market opened on Wednesday . The stock had previously closed at $1.38, but opened at $1.35. Olaplex shares last traded at $1.41, with a volume of 213,590 shares traded.

Analysts Set New Price Targets

Several analysts have commented on the company. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a report on Friday, April 5th. Piper Sandler upgraded shares of Olaplex from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $1.25 to $2.00 in a report on Tuesday, March 19th. Finally, Truist Financial dropped their price target on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Olaplex has an average rating of “Hold” and a consensus price target of $2.59.

Olaplex Stock Performance

The stock’s 50-day moving average is $1.86 and its 200-day moving average is $2.00. The company has a current ratio of 10.92, a quick ratio of 9.21 and a debt-to-equity ratio of 0.77. The stock has a market cap of $889.53 million, a price-to-earnings ratio of 15.34 and a beta of 2.28.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $111.72 million during the quarter, compared to analyst estimates of $108.29 million. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The business’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 earnings per share. On average, analysts expect that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OLPX. Price T Rowe Associates Inc. MD grew its stake in shares of Olaplex by 19.5% in 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of Olaplex by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 11,005,310 shares of the company’s stock valued at $27,953,000 after purchasing an additional 1,366,353 shares during the period. Pacer Advisors Inc. increased its stake in Olaplex by 34.8% during the 4th quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock worth $20,911,000 after buying an additional 2,124,323 shares during the period. AQR Capital Management LLC boosted its position in Olaplex by 142.1% in the 1st 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 acquired a new stake in shares of Olaplex during the fourth quarter valued at about $18,806,000. 87.37% of the stock is owned by hedge funds and other institutional investors.

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.