Olaplex (NASDAQ:OLPX) Shares Gap Down – Time to Sell?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $1.79, but opened at $1.61. Olaplex shares last traded at $1.48, with a volume of 1,296,180 shares.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen increased their price objective on shares of Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $3.00 price objective on shares of Olaplex in a research report on Thursday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.42.

Olaplex Price Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 7.85 and a current ratio of 9.27. The company has a market cap of $963.18 million, a PE ratio of 20.80 and a beta of 2.47. The company’s 50-day simple moving average is $2.18 and its 200 day simple moving average is $1.89.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The company had revenue of $103.90 million during the quarter, compared to analysts’ expectations of $103.65 million. During the same quarter last year, the company posted $0.03 EPS. The firm’s revenue was down 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Olaplex

In other news, Director John P. Bilbrey acquired 183,493 shares of Olaplex stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the acquisition, the director now owns 241,593 shares of the company’s stock, valued at $495,265.65. This trade represents a 300.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Olaplex

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Olaplex by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock valued at $22,915,000 after purchasing an additional 929,693 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Olaplex by 29.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock worth $1,451,000 after acquiring an additional 212,129 shares in the last quarter. Scion Asset Management LLC acquired a new stake in Olaplex during the 2nd quarter worth $1,533,000. Quadrature Capital Ltd raised its stake in Olaplex by 50.4% during the 1st quarter. Quadrature Capital Ltd now owns 88,206 shares of the company’s stock worth $170,000 after acquiring an additional 29,545 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Olaplex by 126.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 80,843 shares of the company’s stock worth $124,000 after acquiring an additional 45,133 shares in the last quarter. 87.37% of the stock is currently owned by institutional investors and hedge funds.

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.