Olaplex (NASDAQ:OLPX) Trading Down 6.3% - What's Next?

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report)'s share price traded down 6.3% on Tuesday . The company traded as low as $1.28 and last traded at $1.27. 450,100 shares were traded during trading, a decline of 79% from the average session volume of 2,193,005 shares. The stock had previously closed at $1.35.

Analysts Set New Price Targets

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

Olaplex Trading Down 0.7 %

The company has a market cap of $890.59 million, a price-to-earnings ratio of 22.34 and a beta of 2.44. The stock has a 50-day simple moving average of $1.49 and a 200 day simple moving average of $1.84. 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 Activity at Olaplex

In related news, General Counsel John C. Duffy sold 35,013 shares of Olaplex stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $50,418.72. Following the completion of the transaction, the general counsel now owns 348,630 shares in the company, valued at $502,027.20. The trade was a 9.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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 approximately $664,629.12. This represents a 5.43 % decrease in their position. 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

Institutional investors and hedge funds have recently modified their holdings of the business. Chemistry Wealth Management LLC purchased a new stake in Olaplex during the 4th quarter worth approximately $25,000. Cinctive Capital Management LP purchased a new stake in Olaplex during the 3rd quarter worth approximately $38,000. Abel Hall LLC increased its stake in 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 buying an additional 7,397 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Olaplex during the 4th quarter worth approximately $34,000. Finally, BNP Paribas Financial Markets purchased a new stake in Olaplex during the 4th quarter worth approximately $35,000. 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.