Olaplex (NASDAQ:OLPX) Hits New 52-Week Low - What's Next?

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $1.17 and last traded at $1.21, with a volume of 261097 shares traded. The stock had previously closed at $1.32.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OLPX. Barclays upped their price target on shares of Olaplex from $1.50 to $1.70 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. Piper Sandler increased their target price on Olaplex from $1.50 to $2.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $2.00 target price on shares of Olaplex in a report on Wednesday, March 12th.

Olaplex Stock Performance

The firm's fifty day moving average price is $1.42 and its 200-day moving average price is $1.75. The company has a market cap of $707.82 million, a P/E ratio of 17.75 and a beta of 2.39. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73.

Insider Buying and Selling

In other news, General Counsel John C. Duffy sold 35,013 shares of Olaplex 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 sale, the general counsel now owns 348,630 shares of the company's stock, valued at approximately $502,027.20. This trade represents a 9.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 owns 461,548 shares of the company's stock, valued at $664,629.12. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

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Hedge Funds Weigh In On Olaplex

A number of hedge funds and other institutional investors have recently made changes to their positions in OLPX. Geode Capital Management LLC raised its position in Olaplex by 14.5% in the third quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company's stock worth $8,717,000 after purchasing an additional 468,570 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Olaplex by 5,728.5% in the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company's stock worth $6,188,000 after buying an additional 2,588,216 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Olaplex in the 3rd quarter worth approximately $664,000. Ninety One UK Ltd lifted its position in shares of Olaplex by 99.3% during the 4th quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company's stock worth $7,335,000 after buying an additional 2,112,009 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in Olaplex in the 3rd quarter valued at $80,000. 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.