Olaplex (NASDAQ:OLPX) Shares Down 6.3% - Here's Why

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report)'s stock price was down 6.3% during trading on Tuesday . The company traded as low as $1.43 and last traded at $1.42. Approximately 367,500 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,967,098 shares. The stock had previously closed at $1.51.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on OLPX shares. Telsey Advisory Group restated a "market perform" rating and issued a $2.00 price target on shares of Olaplex in a report on Friday, May 9th. Barclays set a $1.50 price objective on shares of Olaplex and gave the company an "equal weight" rating in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Olaplex from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $1.88.

Olaplex Price Performance

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 business's 50-day moving average is $1.38 and its two-hundred day moving average is $1.40. The company has a market capitalization of $912.09 million, a P/E ratio of 68.53 and a beta of 2.33.

Olaplex (NASDAQ:OLPX - Get Free Report) last released 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 net margin of 2.91% and a return on equity of 6.36%. The firm 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 earnings per share. The firm's revenue for the quarter was down 1.9% on a year-over-year basis. As a group, analysts predict that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current year.

Institutional Trading of Olaplex

Hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG raised its position in Olaplex by 33.2% in the fourth quarter. Deutsche Bank AG now owns 86,156 shares of the company's stock worth $149,000 after acquiring an additional 21,454 shares during the period. Exchange Traded Concepts LLC bought a new stake in Olaplex in the first quarter worth about $239,000. KLP Kapitalforvaltning AS bought a new stake in Olaplex in the fourth quarter worth about $43,000. Boston Partners raised its position 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 purchasing an additional 4,899,171 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Olaplex by 9.6% in the fourth quarter. Renaissance Technologies LLC now owns 3,076,969 shares of the company's stock valued at $5,323,000 after purchasing an additional 268,969 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.