Olaplex Holdings, Inc. (NASDAQ:OLPX – Get Free Report) fell 4.3% during mid-day trading on Tuesday . The company traded as low as $2.21 and last traded at $2.22. 193,035 shares were traded during mid-day trading, a decline of 91% from the average session volume of 2,212,875 shares. The stock had previously closed at $2.32.
Analyst Ratings Changes
Several analysts have recently commented on OLPX shares. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research report on Tuesday, August 6th. TD Cowen raised their price target on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.18.
Olaplex Price Performance
The company has a market cap of $1.46 billion, a P/E ratio of 31.43 and a beta of 2.42. The firm’s 50-day moving average is $1.82 and its two-hundred day moving average is $1.76. The company has a debt-to-equity ratio of 0.75, a current ratio of 9.27 and a quick ratio of 7.85.
Olaplex (NASDAQ:OLPX – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $103.90 million for the quarter, compared to analysts’ expectations of $103.65 million. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 EPS. Analysts anticipate that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director John P. Bilbrey bought 183,493 shares of Olaplex stock in a transaction dated Monday, August 19th. The shares were acquired at an average price of $2.05 per share, with a total value of $376,160.65. Following the completion of the purchase, the director now owns 241,593 shares in the company, valued at approximately $495,265.65. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by insiders.
Institutional Investors Weigh In On Olaplex
Hedge funds and other institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. grew its holdings in shares of Olaplex by 42.0% in the second quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock worth $30,317,000 after purchasing an additional 5,824,889 shares during the last quarter. Scion Asset Management LLC purchased a new position in shares of Olaplex during the second quarter valued at $1,533,000. Vanguard Group Inc. raised its holdings in shares of Olaplex by 8.4% in the first quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock valued at $22,915,000 after acquiring an additional 929,693 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in Olaplex in the first quarter worth about $660,000. Finally, Norden Group LLC purchased a new stake in Olaplex in the first quarter worth about $563,000. 87.37% of the stock is currently owned by hedge funds and other institutional investors.
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.