Olaplex (NASDAQ:OLPX) Trading Down 6.3% – What’s Next?

Olaplex Holdings, Inc. (NASDAQ:OLPX) was down 6.3% during mid-day trading on Tuesday . The stock traded as low as $1.28 and last traded at $1.27. Approximately 450,100 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 2,193,005 shares. The stock had previously closed at $1.35.

Analyst Upgrades and Downgrades

OLPX has been the topic of a number of analyst reports. Piper Sandler upped their target price on Olaplex from $1.50 to $2.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a research report on Wednesday, March 12th. Finally, Barclays lifted their target price on Olaplex from $1.50 to $1.70 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th.

Olaplex Stock Down 7.0 %

The stock has a market cap of $834.10 million, a PE ratio of 20.92 and a beta of 2.44. The business has a fifty day moving average of $1.51 and a 200-day moving average of $1.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32.

Insiders Place Their Bets

In other news, insider Trisha L. Fox sold 26,526 shares of the business’s 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 sale, the insider now owns 461,548 shares in the company, valued at approximately $664,629.12. The trade was a 5.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel John C. Duffy sold 35,013 shares of the 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 transaction, 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 disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its stake in Olaplex by 181.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 24,500,600 shares of the company’s stock valued at $42,387,000 after purchasing an additional 15,800,642 shares during the last quarter. Boston Partners grew its position in shares of Olaplex by 276.0% in the 4th quarter. Boston Partners now owns 6,674,169 shares of the company’s stock worth $11,257,000 after buying an additional 4,899,171 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Olaplex by 5,728.5% during the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock worth $6,188,000 after acquiring an additional 2,588,216 shares in the last quarter. Ninety One UK Ltd lifted its position in Olaplex by 99.3% during the fourth quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company’s stock valued at $7,335,000 after acquiring an additional 2,112,009 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Olaplex by 162.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company’s stock valued at $4,008,000 after acquiring an additional 1,432,400 shares in 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.