Olaplex (NASDAQ:OLPX) Trading Down 6.3% – Here’s What Happened

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

Analysts Set New Price Targets

OLPX has been the topic of a number of analyst reports. Barclays boosted their price objective on shares of Olaplex from $1.50 to $1.70 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research note on Wednesday, March 12th. Finally, Piper Sandler raised their price target on Olaplex from $1.50 to $2.00 and gave the company a “neutral” rating in a report on Monday, January 6th.

Olaplex Price Performance

The firm has a fifty day moving average of $1.51 and a 200 day moving average of $1.86. 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 company has a market capitalization of $834.10 million, a P/E ratio of 20.92 and a beta of 2.44.

Insider Activity

In other news, insider Trisha L. Fox sold 26,526 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $38,197.44. Following the completion of the sale, the insider now directly owns 461,548 shares of the company’s stock, valued at $664,629.12. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel John C. Duffy sold 35,013 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 value of $50,418.72. Following the sale, the general counsel now directly owns 348,630 shares in the company, valued at $502,027.20. This trade represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Olaplex

Institutional investors and hedge funds have recently modified their holdings of the stock. Abel Hall LLC boosted its holdings 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 purchasing an additional 7,397 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Olaplex by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company’s stock worth $1,861,000 after buying an additional 9,661 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in Olaplex by 23.6% during the 4th quarter. Belpointe Asset Management LLC now owns 61,461 shares of the company’s stock valued at $106,000 after buying an additional 11,724 shares in the last quarter. ProShare Advisors LLC increased its stake in Olaplex by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 39,052 shares of the company’s stock worth $68,000 after acquiring an additional 12,852 shares during the last quarter. Finally, Chemistry Wealth Management LLC purchased a new stake in shares of Olaplex during the 4th quarter worth approximately $25,000. 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.