Olaplex (NASDAQ:OLPX) Stock Price Down 6.3% – What’s Next?

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) traded down 6.3% during trading on Tuesday . The company traded as low as $1.28 and last traded at $1.27. 450,100 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 2,193,005 shares. The stock had previously closed at $1.35.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Piper Sandler raised their price target on Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a research note on Wednesday, March 12th. Finally, Barclays raised their price target on Olaplex from $1.50 to $1.70 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th.

Olaplex Price Performance

The firm has a fifty day moving average of $1.50 and a 200 day moving average of $1.85. The company has a market capitalization of $880.62 million, a P/E ratio of 22.09 and a beta of 2.44. 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 Buying and Selling

In other Olaplex news, insider Trisha L. Fox sold 26,526 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $1.44, for a total transaction of $38,197.44. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel John C. Duffy sold 35,013 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $50,418.72. Following the sale, the general counsel now owns 348,630 shares of the company’s stock, valued at approximately $502,027.20. This represents a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Olaplex

Large investors have recently made changes to their positions in the company. Chemistry Wealth Management LLC purchased a new position in shares of Olaplex during the 4th quarter valued at about $25,000. Cinctive Capital Management LP purchased a new position in shares of Olaplex during the 3rd quarter valued at about $38,000. Abel Hall LLC lifted its position in shares of Olaplex by 68.1% during the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock valued at $43,000 after buying an additional 7,397 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Olaplex during the 4th quarter valued at about $34,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Olaplex during the 4th quarter valued at about $35,000. 87.37% of the stock is currently owned by institutional investors.

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.