Archon Capital Management LLC Makes New Investment in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Archon Capital Management LLC bought a new position in Olaplex Holdings, Inc. (NASDAQ:OLPX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 109,471 shares of the company’s stock, valued at approximately $189,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners grew its stake in Olaplex by 276.0% in the 4th quarter. Boston Partners now owns 6,674,169 shares of the company’s stock valued at $11,257,000 after acquiring an additional 4,899,171 shares during the period. Ninety One UK Ltd raised its stake in Olaplex by 99.3% during the fourth quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company’s stock worth $7,335,000 after purchasing an additional 2,112,009 shares during the period. Geode Capital Management LLC raised its position in shares of Olaplex by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock valued at $8,717,000 after buying an additional 468,570 shares during the period. Renaissance Technologies LLC raised its position in Olaplex by 9.6% in the fourth quarter. Renaissance Technologies LLC now owns 3,076,969 shares of the company’s stock valued at $5,323,000 after purchasing an additional 268,969 shares during the period. Finally, Jane Street Group LLC lifted its position in Olaplex by 5,728.5% in the third quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock valued at $6,188,000 after buying an additional 2,588,216 shares during the last quarter. 87.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on OLPX. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price target on shares of Olaplex in a research note on Wednesday, March 12th. Piper Sandler lifted their price target on shares of Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Barclays upped their price objective 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 Price Performance

Shares of NASDAQ OLPX opened at $1.20 on Friday. The stock has a 50 day moving average of $1.37 and a two-hundred day moving average of $1.71. The stock has a market cap of $797.54 million, a P/E ratio of 20.00 and a beta of 2.39. Olaplex Holdings, Inc. has a twelve month low of $1.01 and a twelve month high of $2.77. 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

In other Olaplex news, General Counsel John C. Duffy sold 35,013 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was 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 directly owns 348,630 shares of the company’s stock, valued at $502,027.20. This represents a 9.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Trisha L. Fox sold 26,526 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $38,197.44. Following 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 ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

Olaplex 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.