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

Olaplex (NASDAQ:OLPX)‘s stock had its “market perform” rating reissued by equities research analysts at Telsey Advisory Group in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $2.00 price objective on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 57.48% from the company’s previous close.

Separately, Barclays upped their price target on shares of Olaplex from $1.50 to $1.70 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th.

Olaplex Trading Down 7.3 %

Shares of NASDAQ OLPX opened at $1.27 on Friday. The company has a market cap of $845.51 million, a price-to-earnings ratio of 21.17 and a beta of 2.37. The stock’s 50 day simple moving average is $1.30 and its 200 day simple moving average is $1.58. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. Olaplex has a 12-month low of $1.01 and a 12-month high of $2.77.

Insiders Place Their Bets

In other Olaplex news, General Counsel John C. Duffy sold 35,013 shares of the company’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 value of $50,418.72. Following the completion of the sale, the general counsel now directly owns 348,630 shares in the company, valued at $502,027.20. This represents a 9.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Trisha L. Fox sold 26,526 shares of Olaplex 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 transaction, the insider now owns 461,548 shares in the company, valued at approximately $664,629.12. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,269 shares of company stock worth $103,161. 4.30% of the stock is owned by company insiders.

Institutional Trading of Olaplex

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Chemistry Wealth Management LLC bought a new stake in shares of Olaplex during the 4th quarter worth $25,000. Teacher Retirement System of Texas acquired a new position in shares of Olaplex in the first quarter worth about $25,000. Hsbc Holdings PLC purchased a new position in shares of Olaplex in the fourth quarter worth approximately $34,000. BNP Paribas Financial Markets acquired a new stake in shares of Olaplex during the fourth quarter valued at approximately $35,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in shares of Olaplex in the 4th quarter valued at approximately $36,000. 87.37% of the stock is currently owned by 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.