Olaplex (NASDAQ:OLPX) Shares Down 4.4%

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report)'s share price dropped 4.4% during mid-day trading on Monday . The company traded as low as $1.29 and last traded at $1.29. Approximately 956,078 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 2,031,974 shares. The stock had previously closed at $1.35.

Analyst Ratings Changes

OLPX has been the subject of a number of research reports. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $2.00 price objective on shares of Olaplex in a research note on Friday, April 5th. Piper Sandler raised shares of Olaplex from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $1.25 to $2.00 in a research note on Tuesday, March 19th. Finally, Truist Financial cut their price objective 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $2.59.

Olaplex Stock Down 4.4 %

The stock's fifty day moving average is $1.79 and its 200 day moving average is $1.99. The company has a current ratio of 10.92, a quick ratio of 9.21 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $853.15 million, a P/E ratio of 14.33 and a beta of 2.28.

Olaplex (NASDAQ:OLPX - Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.03 EPS for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $108.29 million. During the same period in the prior year, the business posted $0.07 EPS. The firm's revenue was down 14.5% compared to the same quarter last year. Research analysts predict that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its holdings in Olaplex by 2,108.4% in the 4th quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company's stock worth $26,000 after purchasing an additional 9,593 shares in the last quarter. Quent Capital LLC grew its position in shares of Olaplex by 2,463.8% in the 4th quarter. Quent Capital LLC now owns 11,178 shares of the company's stock worth $28,000 after buying an additional 10,742 shares during the period. Oak Thistle LLC purchased a new stake in shares of Olaplex in the 3rd quarter worth about $25,000. HB Wealth Management LLC purchased a new stake in shares of Olaplex in the 4th quarter worth about $35,000. Finally, Waldron Private Wealth LLC grew its position in shares of Olaplex by 62.0% in the 4th quarter. Waldron Private Wealth LLC now owns 16,227 shares of the company's stock worth $41,000 after buying an additional 6,213 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.