Olaplex (NASDAQ:OLPX) Shares Gap Down – Time to Sell?

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) gapped down before the market opened on Wednesday . The stock had previously closed at $1.68, but opened at $1.64. Olaplex shares last traded at $1.67, with a volume of 606,947 shares traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on OLPX shares. Piper Sandler lifted their price target on shares of Olaplex from $1.50 to $2.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a report on Tuesday. Finally, Barclays boosted their price target on Olaplex from $1.50 to $1.70 and gave the company an “equal weight” rating in a research report on Wednesday.

Olaplex Stock Performance

The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. The firm has a market cap of $1.10 billion, a PE ratio of 27.59 and a beta of 2.45. The stock’s 50 day moving average price is $1.55 and its 200 day moving average price is $1.90.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Olaplex by 60.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 205,782 shares of the company’s stock valued at $356,000 after buying an additional 77,444 shares during the period. State of Wyoming raised its stake in shares of Olaplex by 53.6% during the fourth quarter. State of Wyoming now owns 301,253 shares of the company’s stock valued at $521,000 after purchasing an additional 105,164 shares during the period. ProShare Advisors LLC lifted its position in shares of Olaplex by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 39,052 shares of the company’s stock worth $68,000 after purchasing an additional 12,852 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Olaplex by 33.2% in the fourth quarter. Deutsche Bank AG now owns 86,156 shares of the company’s stock valued at $149,000 after purchasing an additional 21,454 shares during the period. Finally, Brevan Howard Capital Management LP acquired a new stake in Olaplex during the 4th quarter valued at $102,000. Institutional investors and hedge funds own 87.37% of the company’s stock.

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.