Olaplex (NASDAQ:OLPX) Shares Gap Down - Here's Why

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $1.23, but opened at $1.19. Olaplex shares last traded at $1.17, with a volume of 82,481 shares.

Analyst Upgrades and Downgrades

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

Olaplex Stock Down 2.8 %

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 stock's 50-day moving average price is $1.36 and its 200-day moving average price is $1.70. The company has a market cap of $820.81 million, a P/E ratio of 20.59 and a beta of 2.39.

Insider Buying and Selling at Olaplex

In related news, insider Trisha L. Fox sold 26,526 shares of the company's stock in a transaction dated 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 owns 461,548 shares in the company, valued at $664,629.12. This represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel John C. Duffy sold 35,013 shares of Olaplex stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $50,418.72. Following the transaction, the general counsel now owns 348,630 shares of the company's stock, valued at $502,027.20. This trade represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.20% of the company's stock.

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Institutional Trading of Olaplex

Several institutional investors and hedge funds have recently made changes to their positions in OLPX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Olaplex by 60.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 205,782 shares of the company's stock worth $356,000 after buying an additional 77,444 shares in the last quarter. State of Wyoming grew its stake in Olaplex by 53.6% in the 4th quarter. State of Wyoming now owns 301,253 shares of the company's stock valued at $521,000 after purchasing an additional 105,164 shares during the period. ProShare Advisors LLC increased its position in shares of Olaplex by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 39,052 shares of the company's stock valued at $68,000 after purchasing an additional 12,852 shares during the last quarter. Deutsche Bank AG increased its position in shares of Olaplex by 33.2% during the 4th quarter. Deutsche Bank AG now owns 86,156 shares of the company's stock valued at $149,000 after purchasing an additional 21,454 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Olaplex during the 4th quarter worth $102,000. Hedge funds and other institutional investors own 87.37% of the company's stock.

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.