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

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report)'s share price was down 4.3% during trading on Tuesday . The company traded as low as $1.24 and last traded at $1.22. Approximately 98,308 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 2,215,813 shares. The stock had previously closed at $1.27.

Analyst Ratings Changes

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

Olaplex Stock Performance

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 has a fifty day moving average price of $1.34 and a two-hundred day moving average price of $1.67. The company has a market cap of $810.84 million, a P/E ratio of 20.34 and a beta of 2.39.

Insider Buying and Selling at Olaplex

In related news, insider Trisha L. Fox sold 26,526 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 transaction of $38,197.44. Following the sale, the insider now directly owns 461,548 shares in the company, valued at $664,629.12. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel John C. Duffy sold 35,013 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.44, for a total transaction of $50,418.72. Following the completion of the transaction, the general counsel now owns 348,630 shares of the company's stock, valued at $502,027.20. This represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,269 shares of company stock valued at $103,161 in the last quarter. Corporate insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of Olaplex by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company's stock valued at $8,717,000 after purchasing an additional 468,570 shares during the period. Franklin Resources Inc. bought a new position in Olaplex during the third quarter valued at about $664,000. Chemistry Wealth Management LLC acquired a new position in Olaplex during the fourth quarter worth about $25,000. Cornerstone Wealth Management LLC bought a new stake in Olaplex in the fourth quarter worth about $36,000. Finally, Ninety One UK Ltd lifted its holdings in Olaplex by 99.3% in the 4th quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company's stock valued at $7,335,000 after acquiring an additional 2,112,009 shares during the last quarter. Institutional investors and hedge funds own 87.37% of the company's stock.

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.