Olaplex (NASDAQ:OLPX) Trading Down 4.3% – Time to Sell?

Olaplex Holdings, Inc. (NASDAQ:OLPX) traded down 4.3% on Tuesday . The stock traded as low as $1.24 and last traded at $1.22. 98,308 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 2,215,813 shares. The stock had previously closed at $1.27.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OLPX. Barclays raised their price objective on Olaplex from $1.50 to $1.70 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. Piper Sandler lifted their price objective on Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $2.00 price target on shares of Olaplex in a report on Wednesday, March 12th.

Olaplex Price Performance

The company has a market cap of $814.16 million, a PE ratio of 20.42 and a beta of 2.39. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32. The business has a 50 day moving average of $1.36 and a 200 day moving average of $1.70.

Insider Buying and Selling

In other news, General Counsel John C. Duffy sold 35,013 shares of the firm’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 completion of the sale, the general counsel now owns 348,630 shares in the company, valued at approximately $502,027.20. This trade represents a 9.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Trisha L. Fox sold 26,526 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $38,197.44. Following the sale, the insider now owns 461,548 shares of the company’s stock, valued at $664,629.12. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Institutional Trading of Olaplex

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Chemistry Wealth Management LLC purchased a new stake in shares of Olaplex in the 4th quarter valued at $25,000. Hsbc Holdings PLC acquired a new position in shares of Olaplex during the fourth quarter worth about $34,000. BNP Paribas Financial Markets acquired a new stake in Olaplex in the fourth quarter valued at approximately $35,000. Cornerstone Wealth Management LLC purchased a new position in Olaplex in the fourth quarter worth approximately $36,000. Finally, Parkside Financial Bank & Trust grew its holdings in Olaplex by 290.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company’s stock worth $37,000 after acquiring an additional 15,911 shares in the last quarter. Institutional investors and hedge funds 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.