Olaplex (NASDAQ:OLPX) Shares Gap Down - Should You Sell?

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $1.68, but opened at $1.64. Olaplex shares last traded at $1.67, with a volume of 606,947 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OLPX. Piper Sandler increased their price target on shares of Olaplex from $1.50 to $2.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $2.00 price objective on shares of Olaplex in a research note on Tuesday, March 4th. Finally, Barclays raised their price objective on shares of Olaplex from $1.50 to $1.70 and gave the company an "equal weight" rating in a research note on Wednesday.

Olaplex Stock Down 1.9 %

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 firm's 50 day simple moving average is $1.54 and its 200-day simple moving average is $1.89. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 25.50 and a beta of 2.44.

Institutional Investors Weigh In On Olaplex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OLPX. Chemistry Wealth Management LLC bought a new position in shares of Olaplex in the 4th quarter valued at about $25,000. Hsbc Holdings PLC bought a new position in shares of Olaplex in the 4th quarter valued at about $34,000. BNP Paribas Financial Markets bought a new position in shares of Olaplex in the 4th quarter valued at about $35,000. Cornerstone Wealth Management LLC bought a new position in shares of Olaplex in the 4th quarter valued at about $36,000. Finally, Parkside Financial Bank & Trust grew its position in shares of Olaplex by 290.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company's stock valued at $37,000 after acquiring an additional 15,911 shares during the period. 87.37% of the stock is currently owned by institutional investors and hedge funds.

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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.