Olaplex (NASDAQ:OLPX) Trading Down 6.2% - Here's Why

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report)'s stock price dropped 6.2% during mid-day trading on Thursday . The company traded as low as $1.27 and last traded at $1.29. Approximately 266,806 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 2,125,948 shares. The stock had previously closed at $1.37.

Wall Street Analyst Weigh In

OLPX has been the topic of a number of research reports. Wall Street Zen downgraded Olaplex from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Barclays lifted their price objective on Olaplex from $1.20 to $1.40 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $2.00 target price on shares of Olaplex in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat, Olaplex has an average rating of "Hold" and a consensus target price of $1.85.

Olaplex Stock Up 4.0%

The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.51. The firm has a market cap of $872.14 million, a P/E ratio of 21.84 and a beta of 2.33.

Olaplex (NASDAQ:OLPX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.00 earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.02). Olaplex had a net margin of 9.78% and a return on equity of 10.50%. The company had revenue of $96.98 million for the quarter, compared to the consensus estimate of $93.82 million. During the same period in the previous year, the business earned $0.03 EPS. Olaplex's revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities analysts forecast that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Olaplex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLPX. T. Rowe Price Investment Management Inc. raised its stake in Olaplex by 181.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 24,500,600 shares of the company's stock valued at $42,387,000 after buying an additional 15,800,642 shares during the last quarter. Boston Partners raised its stake in Olaplex by 276.0% in the fourth quarter. Boston Partners now owns 6,674,169 shares of the company's stock valued at $11,257,000 after buying an additional 4,899,171 shares during the last quarter. Ninety One UK Ltd raised its stake in Olaplex by 99.3% in the fourth quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company's stock valued at $7,335,000 after buying an additional 2,112,009 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Olaplex by 162.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company's stock valued at $4,008,000 after buying an additional 1,432,400 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Olaplex by 620.8% in the fourth quarter. Marshall Wace LLP now owns 1,001,339 shares of the company's stock valued at $1,732,000 after buying an additional 862,419 shares during the last quarter. 87.37% of the stock is currently owned by hedge funds and other 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.