Telsey Advisory Group Reaffirms “Market Perform” Rating for Olaplex (NASDAQ:OLPX)

Olaplex (NASDAQ:OLPX)‘s stock had its “market perform” rating reiterated by investment analysts at Telsey Advisory Group in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $2.00 price target on the stock. Telsey Advisory Group’s target price indicates a potential upside of 49.25% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Barclays boosted their price target on shares of Olaplex from $1.50 to $1.70 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. Piper Sandler raised their target price on Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a report on Monday, January 6th.

Olaplex Trading Down 5.6 %

OLPX stock opened at $1.34 on Wednesday. The business has a fifty day moving average of $1.53 and a 200-day moving average of $1.88. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73. The company has a market cap of $890.59 million, a P/E ratio of 22.34 and a beta of 2.44. Olaplex has a twelve month low of $1.19 and a twelve month high of $2.77.

Insider Activity at Olaplex

In related news, insider Trisha L. Fox sold 26,526 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.44, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 stock was sold at an average price of $1.44, for a total transaction of $50,418.72. Following the sale, the general counsel now owns 348,630 shares in the company, valued at approximately $502,027.20. This represents a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Olaplex by 101.0% in the 3rd quarter. Victory Capital Management Inc. now owns 128,079 shares of the company’s stock valued at $301,000 after acquiring an additional 64,370 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Olaplex in the 3rd quarter valued at about $80,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Olaplex by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,066,027 shares of the company’s stock valued at $2,505,000 after acquiring an additional 102,752 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Olaplex during the third quarter worth $141,000. Finally, MetLife Investment Management LLC raised its holdings in shares of Olaplex by 56.4% in the 3rd quarter. MetLife Investment Management LLC now owns 57,903 shares of the company’s stock worth $136,000 after acquiring an additional 20,891 shares during 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.