Olaplex (NASDAQ:OLPX) Reaches New 1-Year Low – What’s Next?

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) reached a new 52-week low on Thursday . The company traded as low as $1.17 and last traded at $1.21, with a volume of 261097 shares trading hands. The stock had previously closed at $1.32.

Analyst Ratings Changes

Several analysts have recently commented on the company. Piper Sandler increased their target price on Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a report on Wednesday, March 12th. Finally, Barclays boosted their target price on shares of Olaplex from $1.50 to $1.70 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th.

Olaplex Stock Performance

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 market cap of $737.73 million, a price-to-earnings ratio of 18.50 and a beta of 2.44. The stock has a 50 day moving average price of $1.43 and a two-hundred day moving average price of $1.77.

Insider Activity

In related news, General Counsel John C. Duffy sold 35,013 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $1.44, for a total transaction of $50,418.72. Following the completion of the transaction, the general counsel now owns 348,630 shares in the company, valued at approximately $502,027.20. The trade was a 9.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Trisha L. Fox sold 26,526 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $1.44, for a total transaction of $38,197.44. Following the completion of the sale, the insider now directly owns 461,548 shares of the company’s stock, valued at $664,629.12. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chemistry Wealth Management LLC acquired a new stake in shares of Olaplex during the fourth quarter worth about $25,000. Hsbc Holdings PLC acquired a new position in shares of Olaplex in the 4th quarter valued at approximately $34,000. BNP Paribas Financial Markets acquired a new stake in Olaplex during the 4th quarter worth approximately $35,000. Cornerstone Wealth Management LLC bought a new position in Olaplex in the fourth quarter valued at approximately $36,000. Finally, Parkside Financial Bank & Trust lifted its stake in Olaplex by 290.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company’s stock valued at $37,000 after buying an additional 15,911 shares in the last quarter. 87.37% of the stock is currently owned by 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.