Olaplex’s (OLPX) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Olaplex (NASDAQ:OLPX) in a research note published on Wednesday morning,Benzinga reports. Telsey Advisory Group currently has a $2.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. Piper Sandler increased 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. Barclays increased their target price on Olaplex from $1.50 to $1.70 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th.

Olaplex Price Performance

Shares of OLPX opened at $1.42 on Wednesday. Olaplex has a 12-month low of $1.19 and a 12-month high of $2.77. The business’s fifty day moving average is $1.53 and its 200 day moving average is $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 stock has a market cap of $943.76 million, a P/E ratio of 23.67 and a beta of 2.44.

Insider Buying and Selling at Olaplex

In other Olaplex news, General Counsel John C. Duffy sold 35,013 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 $50,418.72. Following the transaction, the general counsel now directly owns 348,630 shares in the company, valued at approximately $502,027.20. This trade represents a 9.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Trisha L. Fox sold 26,526 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $38,197.44. Following the transaction, the insider now owns 461,548 shares in the company, valued at approximately $664,629.12. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Olaplex

A number of hedge funds have recently made changes to their positions in OLPX. T. Rowe Price Investment Management Inc. raised its stake in shares of Olaplex by 181.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 24,500,600 shares of the company’s stock worth $42,387,000 after purchasing an additional 15,800,642 shares during the period. Boston Partners raised its stake in shares of Olaplex by 276.0% during the 4th quarter. Boston Partners now owns 6,674,169 shares of the company’s stock worth $11,257,000 after purchasing an additional 4,899,171 shares during the period. Jane Street Group LLC raised its stake in shares of Olaplex by 5,728.5% during the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock worth $6,188,000 after purchasing an additional 2,588,216 shares during the period. Ninety One UK Ltd raised its stake in shares of Olaplex by 99.3% during the 4th quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company’s stock worth $7,335,000 after purchasing an additional 2,112,009 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Olaplex by 162.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company’s stock worth $4,008,000 after purchasing an additional 1,432,400 shares during the period. 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.