Olaplex (NASDAQ:OLPX) Trading Down 4.3% – Should You Sell?

Olaplex Holdings, Inc. (NASDAQ:OLPX) fell 4.3% on Thursday . The stock traded as low as $1.66 and last traded at $1.66. 639,126 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 2,352,698 shares. The stock had previously closed at $1.73.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Telsey Advisory Group reissued a “market perform” rating and set a $3.00 target price on shares of Olaplex in a report on Thursday, November 7th. Barclays reduced their price target on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.30.

Olaplex Price Performance

The business’s 50-day simple moving average is $1.91 and its two-hundred day simple moving average is $1.98. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 27.59 and a beta of 2.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32.

Olaplex (NASDAQ:OLPX) last issued its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The business had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $126.51 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts expect that Olaplex Holdings, Inc. will post 0.11 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John P. Bilbrey purchased 51,697 shares of Olaplex stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $1.75 per share, for a total transaction of $90,469.75. Following the transaction, the director now owns 318,418 shares of the company’s stock, valued at approximately $557,231.50. This represents a 19.38 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Olaplex

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in Olaplex by 29.1% in the second quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock valued at $1,451,000 after buying an additional 212,129 shares during the period. Rhumbline Advisers raised its holdings in shares of Olaplex by 34.9% in the 2nd quarter. Rhumbline Advisers now owns 153,442 shares of the company’s stock worth $236,000 after acquiring an additional 39,698 shares during the last quarter. Norden Group LLC boosted its stake in Olaplex by 41.4% during the 2nd quarter. Norden Group LLC now owns 51,803 shares of the company’s stock valued at $80,000 after purchasing an additional 15,165 shares during the last quarter. Oak Thistle LLC bought a new position in Olaplex during the 2nd quarter valued at $161,000. Finally, Renaissance Technologies LLC boosted its holdings in Olaplex by 0.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company’s stock worth $3,852,000 after acquiring an additional 14,200 shares during the last quarter. 87.37% of the stock is owned by institutional investors.

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.