Olaplex (NASDAQ:OLPX) Shares Gap Down – Here’s Why

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) gapped down before the market opened on Wednesday . The stock had previously closed at $1.68, but opened at $1.64. Olaplex shares last traded at $1.67, with a volume of 606,947 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays increased their price objective on Olaplex from $1.50 to $1.70 and gave the stock an “equal weight” rating in a research note on Wednesday. Piper Sandler raised their price objective on Olaplex from $1.50 to $2.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a report on Tuesday.

Olaplex Stock Performance

The firm has a market cap of $1.02 billion, a PE ratio of 25.50 and a beta of 2.44. 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 50-day simple moving average of $1.54 and a two-hundred day simple moving average of $1.90.

Hedge Funds Weigh In On Olaplex

Institutional investors have recently added to or reduced their stakes in the stock. Abel Hall LLC lifted its stake in Olaplex by 68.1% in the third quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock valued at $43,000 after purchasing an additional 7,397 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Olaplex by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company’s stock worth $1,861,000 after acquiring an additional 9,661 shares during the period. Belpointe Asset Management LLC lifted its holdings in Olaplex by 23.6% during the fourth quarter. Belpointe Asset Management LLC now owns 61,461 shares of the company’s stock valued at $106,000 after purchasing an additional 11,724 shares during the last quarter. ProShare Advisors LLC boosted its position in Olaplex by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 39,052 shares of the company’s stock worth $68,000 after purchasing an additional 12,852 shares during the period. Finally, Chemistry Wealth Management LLC purchased a new position in shares of Olaplex in the fourth quarter worth about $25,000. Institutional investors 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.