Olaplex (NASDAQ:OLPX) Shares Gap Down to $1.38

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $1.38, but opened at $1.35. Olaplex shares last traded at $1.41, with a volume of 213,590 shares changing hands.

Analyst Ratings Changes

OLPX has been the topic of a number of research analyst reports. Piper Sandler raised Olaplex from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $1.25 to $2.00 in a report on Tuesday, March 19th. Truist Financial cut their target price 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. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $2.00 price target on shares of Olaplex in a report on Friday, April 5th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $2.59.

Olaplex Stock Down 6.5 %

The firm has a market cap of $853.15 million, a PE ratio of 15.34 and a beta of 2.28. 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 has a fifty day moving average price of $1.86 and a two-hundred day moving average price of $2.00.

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

Hedge Funds Weigh In On Olaplex

Several institutional investors and hedge funds have recently modified their holdings of OLPX. JPMorgan Chase & Co. boosted its position in Olaplex by 13,198.8% during the first quarter. JPMorgan Chase & Co. now owns 227,276 shares of the company's stock valued at $3,551,000 after purchasing an additional 225,567 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Olaplex during the 1st quarter worth about $158,000. Citigroup Inc. lifted its holdings in shares of Olaplex by 179.3% during the 1st quarter. Citigroup Inc. now owns 43,136 shares of the company's stock valued at $674,000 after buying an additional 27,690 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Olaplex in the 1st quarter valued at approximately $36,000. Finally, Rhumbline Advisers increased its holdings in Olaplex by 2.4% in the first quarter. Rhumbline Advisers now owns 62,830 shares of the company's stock worth $982,000 after buying an additional 1,456 shares during the last quarter. 87.37% of the stock is currently owned by hedge funds and other 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.