Olaplex (NASDAQ:OLPX) Shares Gap Down to $1.38

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares gapped down before the market opened on Wednesday . The stock had previously closed at $1.38, but opened at $1.35. Olaplex shares last traded at $1.41, with a volume of 213,590 shares changing hands.

Analysts Set New Price Targets

OLPX has been the subject of a number of recent research reports. Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $1.25 to $2.00 in a research report on Tuesday, March 19th. Truist Financial decreased their target price on Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a research report on Friday, April 5th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Olaplex currently has a consensus rating of “Hold” and an average target price of $2.59.

Olaplex Stock Performance

The company has a market capitalization of $892.84 million, a PE ratio of 15.00 and a beta of 2.28. The company has a quick ratio of 9.21, a current ratio of 10.92 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $1.83 and a two-hundred day moving average price of $1.99.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $111.72 million during the quarter, compared to analysts’ expectations of $108.29 million. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. The firm’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 earnings per share. Analysts predict that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Olaplex

Large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new stake in Olaplex during the fourth quarter valued at $3,996,000. Pacer Advisors Inc. lifted its stake in Olaplex by 34.8% during the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock worth $20,911,000 after purchasing an additional 2,124,323 shares during the last quarter. Vanguard Group Inc. lifted its stake in Olaplex by 8.9% during the third quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock worth $18,796,000 after purchasing an additional 787,242 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Olaplex during the third quarter worth about $82,000. Finally, Quadrature Capital Ltd lifted its stake in Olaplex by 34.6% during the third quarter. Quadrature Capital Ltd now owns 74,057 shares of the company’s stock worth $145,000 after purchasing an additional 19,019 shares during the last quarter. Institutional investors 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.