Olaplex (NASDAQ:OLPX) Trading Down 7.1% – Here’s Why

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares traded down 7.1% on Monday . The company traded as low as $1.4950 and last traded at $1.4950. 986,613 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 1,516,555 shares. The stock had previously closed at $1.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a report on Thursday, January 22nd. Zacks Research raised Olaplex from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Barclays set a $1.75 price target on Olaplex in a report on Friday, January 16th. Jefferies Financial Group reiterated a “buy” rating on shares of Olaplex in a report on Wednesday. Finally, Northland Securities assumed coverage on Olaplex in a research report on Thursday, November 20th. They issued an “outperform” rating and a $2.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Olaplex currently has an average rating of “Hold” and an average price target of $1.85.

Olaplex Trading Up 18.7%

The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 76.00 and a beta of 2.24. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.16 and a quick ratio of 3.52. The business has a 50-day moving average of $1.54 and a 200-day moving average of $1.36.

Institutional Investors Weigh In On Olaplex

Large investors have recently made changes to their positions in the stock. Fund 1 Investments LLC acquired a new position in Olaplex during the fourth quarter worth $1,023,000. Abel Hall LLC acquired a new position in shares of Olaplex during the 4th quarter worth about $27,000. Jump Financial LLC increased its stake in shares of Olaplex by 193.7% during the 4th quarter. Jump Financial LLC now owns 29,800 shares of the company’s stock worth $40,000 after purchasing an additional 19,653 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Olaplex by 284.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,909,836 shares of the company’s stock valued at $2,559,000 after purchasing an additional 1,413,423 shares during the period. Finally, Barclays PLC lifted its stake in Olaplex by 9.5% in the 4th quarter. Barclays PLC now owns 245,088 shares of the company’s stock valued at $328,000 after purchasing an additional 21,292 shares during the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.

About Olaplex

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.