Olaplex (NASDAQ:OLPX) Sets New 52-Week Low – Time to Sell?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price reached a new 52-week low on Thursday . The company traded as low as $1.17 and last traded at $1.21, with a volume of 261097 shares traded. The stock had previously closed at $1.32.

Analyst Ratings Changes

A number of research firms have issued reports on OLPX. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a report on Wednesday, March 12th. Barclays lifted their price target on shares of Olaplex from $1.50 to $1.70 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. Finally, Piper Sandler lifted 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.

Olaplex Price Performance

The company has a market capitalization of $800.87 million, a PE ratio of 20.25 and a beta of 2.44. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84. The company’s 50-day simple moving average is $1.45 and its 200-day simple moving average is $1.78.

Insider Buying and Selling

In other Olaplex news, insider Trisha L. Fox sold 26,526 shares of Olaplex stock in a transaction that occurred 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 transaction, the insider now directly owns 461,548 shares of the company’s stock, valued at $664,629.12. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel John C. Duffy sold 35,013 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $502,027.20. This represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Olaplex

Several large investors have recently modified their holdings of OLPX. Intech Investment Management LLC bought a new position in Olaplex in the 3rd quarter worth about $80,000. Charles Schwab Investment Management Inc. lifted its position in shares of Olaplex by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,066,027 shares of the company’s stock worth $2,505,000 after purchasing an additional 102,752 shares in the last quarter. MetLife Investment Management LLC boosted its position in Olaplex by 56.4% during the third quarter. MetLife Investment Management LLC now owns 57,903 shares of the company’s stock valued at $136,000 after purchasing an additional 20,891 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in Olaplex in the third quarter worth approximately $395,000. Finally, Cinctive Capital Management LP bought a new position in shares of Olaplex during the 3rd quarter valued at $38,000. 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.