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

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares gapped down before the market opened on Thursday . The stock had previously closed at $2.17, but opened at $2.10. Olaplex shares last traded at $2.02, with a volume of 578,377 shares traded.

Analysts Set New Price Targets

Several analysts recently commented on OLPX shares. Barclays dropped their price target on Olaplex from $2.00 to $1.50 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Telsey Advisory Group reiterated a “market perform” rating and set a $3.00 price target on shares of Olaplex in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Olaplex has a consensus rating of “Hold” and an average price target of $2.30.

Olaplex Trading Down 7.4 %

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 fifty day simple moving average of $2.01 and a 200-day simple moving average of $1.97. The company has a market capitalization of $1.33 billion, a PE ratio of 33.67 and a beta of 2.48.

Olaplex (NASDAQ:OLPX) last issued its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $126.51 million. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. Analysts predict that Olaplex Holdings, Inc. will post 0.11 EPS for the current year.

Insider Activity

In other Olaplex news, Director John P. Bilbrey purchased 25,128 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $1.76 per share, with a total value of $44,225.28. Following the purchase, the director now directly owns 266,721 shares in the company, valued at approximately $469,428.96. This trade represents a 10.40 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Several large investors have recently modified their holdings of OLPX. Pacer Advisors Inc. lifted its stake in Olaplex by 42.0% during the 2nd quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock worth $30,317,000 after acquiring an additional 5,824,889 shares in the last quarter. Geode Capital Management LLC lifted its stake in Olaplex by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock worth $8,717,000 after acquiring an additional 468,570 shares in the last quarter. Jane Street Group LLC lifted its stake in Olaplex by 5,728.5% during the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock worth $6,188,000 after acquiring an additional 2,588,216 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Olaplex by 0.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company’s stock worth $3,852,000 after acquiring an additional 14,200 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Olaplex by 20.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,073,878 shares of the company’s stock worth $1,654,000 after acquiring an additional 184,091 shares in the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.

About Olaplex

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.