Olaplex's (OLPX) Market Perform Rating Reaffirmed at Telsey Advisory Group

Olaplex (NASDAQ:OLPX - Get Free Report)'s stock had its "market perform" rating restated by equities research analysts at Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They currently have a $2.00 price target on the stock. Telsey Advisory Group's price objective would suggest a potential upside of 32.45% from the stock's current price.

Several other research analysts also recently commented on the stock. Barclays increased their price objective on shares of Olaplex from $1.50 to $1.70 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. Piper Sandler lifted their price objective on shares of Olaplex from $1.50 to $2.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th.

Olaplex Trading Down 4.4 %

Shares of NASDAQ:OLPX opened at $1.51 on Wednesday. The stock's 50-day simple moving average is $1.53 and its two-hundred day simple moving average is $1.88. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 25.17 and a beta of 2.44. Olaplex has a 52-week low of $1.19 and a 52-week high of $2.77. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84.

Insider Transactions at Olaplex

In related news, General Counsel John C. Duffy sold 35,013 shares of Olaplex stock in a transaction that occurred on Friday, March 7th. The stock was 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 directly owns 348,630 shares in the company, valued at approximately $502,027.20. This trade represents a 9.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Trisha L. Fox sold 26,526 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.44, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Olaplex

A number of hedge funds have recently made changes to their positions in OLPX. Abel Hall LLC boosted its stake in Olaplex by 68.1% during the third quarter. Abel Hall LLC now owns 18,261 shares of the company's stock worth $43,000 after buying an additional 7,397 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Olaplex by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company's stock valued at $1,861,000 after acquiring an additional 9,661 shares during the last quarter. Belpointe Asset Management LLC increased its position in Olaplex by 23.6% during the fourth quarter. Belpointe Asset Management LLC now owns 61,461 shares of the company's stock worth $106,000 after purchasing an additional 11,724 shares during the last quarter. ProShare Advisors LLC raised its stake in Olaplex by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 39,052 shares of the company's stock worth $68,000 after purchasing an additional 12,852 shares during the period. Finally, Chemistry Wealth Management LLC acquired a new position in Olaplex in the 4th quarter valued at about $25,000. Institutional investors and hedge funds 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.

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