Olaplex (NASDAQ:OLPX) Downgraded to "Sell" Rating by Wall Street Zen

Olaplex (NASDAQ:OLPX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

Other analysts have also issued research reports about the company. Barclays increased their target price on Olaplex from $1.20 to $1.40 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $2.00 price target on shares of Olaplex in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, Olaplex presently has a consensus rating of "Hold" and a consensus target price of $1.85.

Olaplex Trading Down 2.6%

Olaplex stock traded down $0.04 during midday trading on Friday, reaching $1.50. The stock had a trading volume of 1,646,922 shares, compared to its average volume of 2,072,720. The company has a quick ratio of 9.53, a current ratio of 10.74 and a debt-to-equity ratio of 0.73. The firm has a market cap of $998.64 million, a price-to-earnings ratio of 75.04 and a beta of 2.33. Olaplex has a 52-week low of $1.01 and a 52-week high of $2.77. The company has a fifty day moving average of $1.33 and a 200 day moving average of $1.44.

Olaplex (NASDAQ:OLPX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.02). Olaplex had a return on equity of 6.36% and a net margin of 2.91%. The business had revenue of $96.98 million during the quarter, compared to analysts' expectations of $93.82 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company's quarterly revenue was down 1.9% compared to the same quarter last year. On average, analysts anticipate that Olaplex will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olaplex

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC increased its stake in shares of Olaplex by 151.8% during the first quarter. Jane Street Group LLC now owns 88,321 shares of the company's stock valued at $112,000 after buying an additional 258,873 shares during the period. Empowered Funds LLC bought a new position in Olaplex during the 1st quarter worth about $576,000. Scoggin Management LP bought a new position in Olaplex during the 1st quarter worth about $64,000. Nantahala Capital Management LLC purchased a new position in Olaplex during the 1st quarter valued at about $826,000. Finally, MYDA Advisors LLC bought a new stake in shares of Olaplex in the 1st quarter valued at about $762,000. 87.37% of the stock is owned by institutional investors.

Olaplex Company Profile

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.