Olaplex (NASDAQ:OLPX) Trading Down 7.8%

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) traded down 7.8% during trading on Friday . The company traded as low as $2.37 and last traded at $2.38. 891,060 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 2,234,853 shares. The stock had previously closed at $2.58.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research report on Tuesday, August 6th. TD Cowen raised their price target on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.18.

Olaplex Price Performance

The firm’s 50 day simple moving average is $2.08 and its two-hundred day simple moving average is $1.79. The company has a debt-to-equity ratio of 0.75, a current ratio of 9.27 and a quick ratio of 7.85. The firm has a market capitalization of $1.49 billion, a P/E ratio of 32.14 and a beta of 2.42.

Olaplex (NASDAQ:OLPX) last released its earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The company had revenue of $103.90 million during the quarter, compared to analyst estimates of $103.65 million. During the same quarter in the previous year, the company posted $0.03 EPS. Olaplex’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, analysts predict that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Insider Transactions at Olaplex

In other news, Director John P. Bilbrey purchased 183,493 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the acquisition, the director now directly owns 241,593 shares of the company’s stock, valued at approximately $495,265.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in Olaplex by 2,108.4% during the 4th quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock valued at $26,000 after purchasing an additional 9,593 shares during the period. Catalina Capital Group LLC purchased a new position in shares of Olaplex during the first quarter valued at approximately $31,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Olaplex during the fourth quarter valued at approximately $46,000. Quarry LP purchased a new stake in Olaplex in the second quarter worth $33,000. Finally, Walleye Trading LLC bought a new stake in Olaplex in the first quarter valued at $53,000. 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.