Olaplex (NASDAQ:OLPX) Shares Gap Down - Here's What Happened

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $1.23, but opened at $1.19. Olaplex shares last traded at $1.17, with a volume of 82,481 shares traded.

Wall Street Analyst Weigh In

OLPX has been the subject of several analyst reports. Telsey Advisory Group restated a "market perform" rating and issued a $2.00 target price on shares of Olaplex in a report on Wednesday, March 12th. Barclays upped their price objective on shares of Olaplex from $1.50 to $1.70 and gave the company an "equal weight" rating in a report on Wednesday, March 5th. Finally, Piper Sandler boosted their target price on shares of Olaplex from $1.50 to $2.00 and gave the company a "neutral" rating in a report on Monday, January 6th.

Olaplex Trading Down 7.2 %

The business's 50-day simple moving average is $1.35 and its two-hundred day simple moving average is $1.69. The firm has a market capitalization of $770.96 million, a price-to-earnings ratio of 19.34 and a beta of 2.39. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73.

Insider Transactions at Olaplex

In other Olaplex news, insider Trisha L. Fox sold 26,526 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $38,197.44. Following the sale, the insider now directly owns 461,548 shares of the company's stock, valued at approximately $664,629.12. This represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel John C. Duffy sold 35,013 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $50,418.72. Following the completion of the transaction, the general counsel now directly owns 348,630 shares in the company, valued at $502,027.20. This trade represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OLPX. T. Rowe Price Investment Management Inc. grew its holdings in shares of Olaplex by 181.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 24,500,600 shares of the company's stock worth $42,387,000 after purchasing an additional 15,800,642 shares during the last quarter. Boston Partners boosted its holdings in shares of 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 acquiring an additional 4,899,171 shares during the period. Ninety One UK Ltd grew its position in shares of Olaplex by 99.3% during the fourth quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company's stock worth $7,335,000 after acquiring an additional 2,112,009 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Olaplex by 162.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company's stock valued at $4,008,000 after purchasing an additional 1,432,400 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Olaplex by 620.8% during the 4th quarter. Marshall Wace LLP now owns 1,001,339 shares of the company's stock worth $1,732,000 after purchasing an additional 862,419 shares during the period. Institutional investors and hedge funds 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.