Olaplex (NASDAQ:OLPX) Stock Price Down 7.8%

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price fell 7.8% on Friday . The company traded as low as $2.37 and last traded at $2.38. 891,060 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 2,234,853 shares. The stock had previously closed at $2.58.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OLPX. Telsey Advisory Group restated a “market perform” rating and set a $2.00 target price on shares of Olaplex in a research report on Tuesday, August 6th. TD Cowen boosted their price objective on Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.18.

Olaplex Stock Down 10.1 %

The company has a quick ratio of 7.85, a current ratio of 9.27 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average price of $2.07 and a 200-day moving average price of $1.79. The firm has a market capitalization of $1.54 billion, a PE ratio of 34.00 and a beta of 2.42.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $103.90 million during the quarter, compared to analyst estimates of $103.65 million. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. Equities research analysts forecast that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Olaplex news, Director John P. Bilbrey bought 183,493 shares of the business’s stock in a transaction on Monday, August 19th. The stock was bought 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 directly owns 241,593 shares in the company, valued at $495,265.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Olaplex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in Olaplex by 27.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,957 shares of the company’s stock worth $60,000 after acquiring an additional 6,614 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Olaplex by 38.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock worth $40,000 after acquiring an additional 7,235 shares during the last quarter. Catalina Capital Group LLC increased its stake in Olaplex by 51.3% during the second quarter. Catalina Capital Group LLC now owns 24,088 shares of the company’s stock worth $37,000 after acquiring an additional 8,172 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Olaplex by 2,108.4% in the fourth quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock valued at $26,000 after buying an additional 9,593 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of Olaplex by 57.8% in the first quarter. Bleakley Financial Group LLC now owns 28,591 shares of the company’s stock valued at $55,000 after buying an additional 10,473 shares in the last quarter. 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.