Olaplex (NASDAQ:OLPX) Shares Gap Down – Should You Sell?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price gapped down prior to trading on Friday . The stock had previously closed at $1.23, but opened at $1.19. Olaplex shares last traded at $1.17, with a volume of 82,481 shares changing hands.

Analyst Upgrades and Downgrades

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

Olaplex Stock Performance

The company’s 50-day simple moving average is $1.38 and its 200 day simple moving average is $1.72. The stock has a market cap of $780.93 million, a P/E ratio of 19.59 and a beta of 2.39. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73.

Insider Buying and Selling at Olaplex

In related news, General Counsel John C. Duffy sold 35,013 shares of the firm’s stock in a transaction dated 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 sale, the general counsel now owns 348,630 shares in the company, valued at approximately $502,027.20. This trade represents a 9.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $38,197.44. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 worth $356,000 after acquiring an additional 77,444 shares during the last quarter. State of Wyoming raised its position in shares of Olaplex by 53.6% in the fourth quarter. State of Wyoming now owns 301,253 shares of the company’s stock valued at $521,000 after purchasing an additional 105,164 shares during the period. ProShare Advisors LLC lifted its stake in shares of Olaplex by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 39,052 shares of the company’s stock valued at $68,000 after buying an additional 12,852 shares in the last quarter. Deutsche Bank AG boosted its holdings in Olaplex by 33.2% in the 4th quarter. Deutsche Bank AG now owns 86,156 shares of the company’s stock worth $149,000 after buying an additional 21,454 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new position in Olaplex in the 4th quarter valued at approximately $102,000. 87.37% of the stock is 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.