Telsey Advisory Group Reiterates "Market Perform" Rating for Olaplex (NASDAQ:OLPX)

Olaplex (NASDAQ:OLPX - Get Free Report)'s stock had its "market perform" rating reaffirmed by investment analysts at Telsey Advisory Group in a report released on Friday,Benzinga reports. They presently have a $2.00 target price on the stock. Telsey Advisory Group's price objective points to a potential upside of 47.60% from the stock's current price.

Other analysts have also issued research reports about the company. Piper Sandler increased their target price on Olaplex from $1.50 to $2.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Barclays upped their target price on Olaplex from $1.50 to $1.70 and gave the company an "equal weight" rating in a report on Wednesday, March 5th.

Olaplex Price Performance

Shares of NASDAQ OLPX traded up $0.05 during midday trading on Friday, reaching $1.36. The company's stock had a trading volume of 280,182 shares, compared to its average volume of 2,140,655. The company has a market cap of $902.10 million, a price-to-earnings ratio of 22.59 and a beta of 2.37. Olaplex has a one year low of $1.01 and a one year high of $2.77. 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 company has a 50 day moving average price of $1.31 and a 200 day moving average price of $1.60.

Insider Transactions at Olaplex

In other news, General Counsel John C. Duffy sold 35,013 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.44, for a total transaction of $50,418.72. Following the sale, the general counsel now owns 348,630 shares in the company, valued at approximately $502,027.20. This represents a 9.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Trisha L. Fox sold 26,526 shares of Olaplex stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $38,197.44. Following the completion of the transaction, the insider now directly owns 461,548 shares of the company's stock, valued at $664,629.12. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,269 shares of company stock valued at $103,161. 4.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Kapitalo Investimentos Ltda acquired a new stake in shares of Olaplex in the 1st quarter valued at $123,000. TD Asset Management Inc boosted its holdings in Olaplex by 15.2% in the first quarter. TD Asset Management Inc now owns 678,942 shares of the company's stock valued at $862,000 after acquiring an additional 89,698 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Olaplex during the 1st quarter worth about $25,000. Exchange Traded Concepts LLC acquired a new position in Olaplex during the 1st quarter valued at about $239,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Olaplex by 60.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 205,782 shares of the company's stock valued at $356,000 after purchasing an additional 77,444 shares during the last quarter. 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.