Olaplex (NASDAQ:OLPX) Stock Price Down 5.2% – Time to Sell?

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares were down 5.2% on Tuesday . The stock traded as low as $1.98 and last traded at $2.00. Approximately 724,612 shares changed hands during trading, a decline of 70% from the average daily volume of 2,422,033 shares. The stock had previously closed at $2.11.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on OLPX shares. TD Cowen increased their price objective on shares of Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Telsey Advisory Group restated a “market perform” rating and issued a $3.00 target price on shares of Olaplex in a research report on Thursday, November 7th. Finally, Barclays decreased their target price on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.30.

Olaplex Trading Down 4.3 %

The firm’s 50-day simple moving average is $2.08 and its 200 day simple moving average is $1.92. 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 stock has a market cap of $1.34 billion, a P/E ratio of 35.17 and a beta of 2.47.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $126.51 million. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. As a group, equities research analysts anticipate that Olaplex Holdings, Inc. will post 0.11 earnings per share for the current year.

Insider Activity

In other Olaplex news, Director John P. Bilbrey bought 51,697 shares of Olaplex stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $1.75 per share, for a total transaction of $90,469.75. Following the completion of the acquisition, the director now owns 318,418 shares of the company’s stock, valued at approximately $557,231.50. This represents a 19.38 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Trading of Olaplex

A number of large investors have recently added to or reduced their stakes in OLPX. Ballentine Partners LLC bought a new stake in Olaplex during the third quarter worth approximately $28,000. Quarry LP bought a new stake in Olaplex during the second quarter worth approximately $33,000. Catalina Capital Group LLC boosted its holdings 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 buying an additional 8,172 shares in the last quarter. Cinctive Capital Management LP bought a new stake in Olaplex during the third quarter worth approximately $38,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Olaplex by 38.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock valued at $40,000 after acquiring an additional 7,235 shares in the last quarter. 87.37% of the stock is currently owned by institutional investors.

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.