Olaplex (NASDAQ:OLPX) Shares Down 4.3% - Here's Why

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) dropped 4.3% during trading on Monday . The stock traded as low as $1.43 and last traded at $1.44. Approximately 316,745 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,997,103 shares. The stock had previously closed at $1.50.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wall Street Zen cut Olaplex from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Barclays lifted their price target on shares of Olaplex from $1.20 to $1.40 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $2.00 price target on shares of Olaplex in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $1.85.

Olaplex Trading Down 1.3%

The business has a 50-day moving average price of $1.35 and a two-hundred day moving average price of $1.42. The company has a market cap of $1.05 billion, a P/E ratio of 79.04 and a beta of 2.33. The company has a quick ratio of 9.53, a current ratio of 10.74 and a debt-to-equity ratio of 0.73.

Olaplex (NASDAQ:OLPX - Get Free Report) last posted its quarterly earnings results 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 return on equity of 6.36% and a net margin of 2.91%. The business had revenue of $96.98 million for the quarter, compared to the consensus estimate of $93.82 million. During the same period last year, the firm earned $0.03 earnings per share. The company's quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts predict that Olaplex Holdings, Inc. will post 0.1 EPS for the current year.

Institutional Trading of Olaplex

A number of large investors have recently made changes to their positions in OLPX. Charles Schwab Investment Management Inc. grew its stake in Olaplex by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company's stock valued at $1,861,000 after acquiring an additional 9,661 shares during the period. Belpointe Asset Management LLC grew its position in shares of Olaplex by 23.6% in the 4th quarter. Belpointe Asset Management LLC now owns 61,461 shares of the company's stock valued at $106,000 after purchasing an additional 11,724 shares during the period. MetLife Investment Management LLC increased its stake in Olaplex by 20.0% during the 1st quarter. MetLife Investment Management LLC now owns 70,438 shares of the company's stock worth $89,000 after purchasing an additional 11,759 shares in the last quarter. ProShare Advisors LLC increased its stake in Olaplex by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 39,052 shares of the company's stock worth $68,000 after purchasing an additional 12,852 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Olaplex by 80.6% during the 1st quarter. Hsbc Holdings PLC now owns 35,902 shares of the company's stock worth $46,000 after buying an additional 16,023 shares during the period. Institutional investors 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.