Olaplex (NASDAQ:OLPX) Shares Down 4.3% - Here's Why

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) shares traded down 4.3% during mid-day trading on Thursday . The company traded as low as $1.66 and last traded at $1.66. 639,126 shares were traded during trading, a decline of 73% from the average session volume of 2,352,698 shares. The stock had previously closed at $1.73.

Analysts Set New Price Targets

A number of brokerages have recently commented on OLPX. Barclays lowered their price target on Olaplex from $2.00 to $1.50 and set an "equal weight" rating for the company in a research note on Monday, November 11th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $3.00 target price on shares of Olaplex in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.30.

Olaplex Stock Performance

The stock has a market cap of $1.12 billion, a P/E ratio of 28.17 and a beta of 2.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32. The stock's 50 day simple moving average is $1.91 and its two-hundred day simple moving average is $1.97.

Olaplex (NASDAQ:OLPX - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. The business had revenue of $119.10 million for the quarter, compared to analysts' expectations of $126.51 million. During the same period in the previous year, the firm posted $0.05 EPS. The firm's revenue was down 3.6% compared to the same quarter last year. As a group, research analysts forecast that Olaplex Holdings, Inc. will post 0.11 EPS for the current year.

Insider Activity at Olaplex

In other Olaplex news, Director John P. Bilbrey bought 25,128 shares of Olaplex stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $1.76 per share, for a total transaction of $44,225.28. Following the completion of the acquisition, the director now owns 266,721 shares of the company's stock, valued at $469,428.96. This trade represents a 10.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Olaplex

Several institutional investors and hedge funds have recently added to or reduced their stakes in OLPX. Ballentine Partners LLC acquired a new stake in shares of Olaplex in the 3rd quarter valued at approximately $28,000. Quarry LP bought a new stake in Olaplex during the second quarter worth $33,000. Cinctive Capital Management LP acquired a new stake in Olaplex in the third quarter valued at $38,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Olaplex by 38.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company's stock valued at $40,000 after acquiring an additional 7,235 shares during the period. Finally, Abel Hall LLC increased its stake in shares of Olaplex by 68.1% during the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company's stock worth $43,000 after purchasing an additional 7,397 shares during the last quarter. 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.