Olaplex (NASDAQ:OLPX) Receives Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Olaplex (NASDAQ:OLPX) in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a $2.00 target price on the stock.

Other equities analysts have also issued reports about the company. Barclays boosted their price target on Olaplex from $1.50 to $1.70 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. Piper Sandler boosted their target price 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.

Olaplex Stock Performance

NASDAQ:OLPX opened at $1.37 on Friday. The firm’s 50-day moving average is $1.31 and its 200-day moving average is $1.61. The company has a market cap of $912.09 million, a price-to-earnings ratio of 22.84 and a beta of 2.39. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84. Olaplex has a 52-week low of $1.01 and a 52-week high of $2.77.

Insider Activity at Olaplex

In related news, General Counsel John C. Duffy sold 35,013 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $50,418.72. Following the sale, the general counsel now owns 348,630 shares in the company, valued at approximately $502,027.20. This represents a 9.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Trisha L. Fox sold 26,526 shares of the firm’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 sale, the insider now directly owns 461,548 shares of the company’s stock, valued at $664,629.12. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,269 shares of company stock worth $103,161. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Several large investors have recently modified their holdings of the stock. Chemistry Wealth Management LLC acquired a new position in Olaplex in the 4th quarter valued at about $25,000. Teacher Retirement System of Texas bought a new position in shares of Olaplex during the first quarter worth approximately $25,000. Hsbc Holdings PLC acquired a new stake in Olaplex during the 4th quarter worth approximately $34,000. BNP Paribas Financial Markets acquired a new stake in Olaplex during the 4th quarter worth approximately $35,000. Finally, Cornerstone Wealth Management LLC bought a new stake in Olaplex in the 4th quarter valued at $36,000. 87.37% of the stock is owned by institutional investors.

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.