Olaplex (NASDAQ:OLPX) Shares Gap Down to $1.94

Olaplex Holdings, Inc. (NASDAQ:OLPXGet Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $1.94, but opened at $1.85. Olaplex shares last traded at $1.84, with a volume of 247,006 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Piper Sandler upgraded Olaplex from an “underweight” rating to a “neutral” rating and increased their price target for the company from $1.25 to $2.00 in a research report on Tuesday, March 19th. Truist Financial decreased their price target on Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a research report on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Olaplex presently has an average rating of “Hold” and a consensus target price of $2.59.

View Our Latest Stock Report on OLPX

Olaplex Trading Down 2.6 %

The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 21.56 and a beta of 2.28. The company has a current ratio of 10.92, a quick ratio of 9.21 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $2.03 and a 200-day moving average price of $2.03.

Olaplex (NASDAQ:OLPXGet Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. The business had revenue of $111.72 million for the quarter, compared to the consensus estimate of $108.29 million. During the same period last year, the business earned $0.07 EPS. The firm’s revenue was down 14.5% compared to the same quarter last year. On average, equities research analysts predict that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OLPX. JPMorgan Chase & Co. lifted its holdings in shares of Olaplex by 13,198.8% during the first quarter. JPMorgan Chase & Co. now owns 227,276 shares of the company’s stock worth $3,551,000 after buying an additional 225,567 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Olaplex during the first quarter worth approximately $158,000. Citigroup Inc. lifted its holdings in shares of Olaplex by 179.3% during the first quarter. Citigroup Inc. now owns 43,136 shares of the company’s stock worth $674,000 after buying an additional 27,690 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Olaplex during the first quarter worth approximately $36,000. Finally, Rhumbline Advisers lifted its holdings in shares of Olaplex by 2.4% during the first quarter. Rhumbline Advisers now owns 62,830 shares of the company’s stock worth $982,000 after buying an additional 1,456 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors and hedge funds.

About Olaplex

(Get Free Report)

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.

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