Olaplex (NASDAQ:OLPX) Sets New 12-Month Low at $1.24

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report)'s share price reached a new 52-week low on Tuesday . The stock traded as low as $1.24 and last traded at $1.24, with a volume of 580864 shares changing hands. The stock had previously closed at $1.29.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on OLPX shares. Piper Sandler upgraded shares of Olaplex from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $1.25 to $2.00 in a research note on Tuesday, March 19th. Telsey Advisory Group restated a "market perform" rating and issued a $2.00 price target on shares of Olaplex in a research note on Friday, April 5th. Finally, Truist Financial dropped their price target on shares of Olaplex from $7.00 to $3.00 and set a "buy" rating for the company in a research note on Monday, March 4th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Olaplex presently has a consensus rating of "Hold" and a consensus target price of $2.59.

Olaplex Trading Down 2.3 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 10.92 and a quick ratio of 9.21. The business's 50 day moving average price is $1.78 and its 200-day moving average price is $1.98. The firm has a market capitalization of $833.31 million, a price-to-earnings ratio of 14.00 and a beta of 2.28.

Olaplex (NASDAQ:OLPX - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The company had revenue of $111.72 million for the quarter, compared to analyst estimates of $108.29 million. During the same period in the prior year, the business posted $0.07 earnings per share. The firm's revenue for the quarter was down 14.5% compared to the same quarter last year. Equities analysts forecast that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Olaplex

Institutional investors and hedge funds have recently modified their holdings of the company. Oak Thistle LLC acquired a new position in Olaplex during the third quarter valued at approximately $25,000. Quadrant Capital Group LLC boosted its holdings in shares of Olaplex by 2,108.4% during the fourth quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company's stock valued at $26,000 after acquiring an additional 9,593 shares during the period. Quent Capital LLC lifted its holdings in Olaplex by 2,463.8% in the fourth quarter. Quent Capital LLC now owns 11,178 shares of the company's stock worth $28,000 after purchasing an additional 10,742 shares during the period. HB Wealth Management LLC acquired a new stake in Olaplex in the fourth quarter worth about $35,000. Finally, M&T Bank Corp acquired a new stake in Olaplex in the third quarter worth about $36,000. Hedge funds and other institutional investors own 87.37% of the company's stock.

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.