Olaplex (NASDAQ:OLPX) Sets New 12-Month Low at $1.24

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares reached a new 52-week low on Tuesday . The company traded as low as $1.24 and last traded at $1.24, with a volume of 580864 shares changing hands. The stock had previously closed at $1.29.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a report on Friday, April 5th. Truist Financial lowered their target price on Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Finally, Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $1.25 to $2.00 in a report on Tuesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Olaplex presently has a consensus rating of “Hold” and an average target price of $2.59.

Olaplex Trading Down 2.3 %

The firm has a 50-day moving average of $1.79 and a two-hundred day moving average of $1.99. The firm has a market capitalization of $833.31 million, a P/E ratio of 14.45 and a beta of 2.28. The company has a current ratio of 10.92, a quick ratio of 9.21 and a debt-to-equity ratio of 0.77.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The business had revenue of $111.72 million during the quarter, compared to analysts’ expectations of $108.29 million. During the same period in the prior year, the company earned $0.07 EPS. The firm’s quarterly revenue was down 14.5% compared to the same quarter last year. On average, analysts anticipate that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Olaplex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its stake in shares of Olaplex by 34.8% in the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock valued at $20,911,000 after buying an additional 2,124,323 shares during the period. State of Alaska Department of Revenue bought a new stake in Olaplex in the fourth quarter valued at approximately $3,996,000. Vanguard Group Inc. increased its position in Olaplex by 8.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock valued at $18,796,000 after purchasing an additional 787,242 shares during the period. Sanders Morris Harris LLC bought a new position in Olaplex during the 1st quarter worth approximately $660,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Olaplex by 119,729.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 336,722 shares of the company’s stock worth $855,000 after purchasing an additional 336,441 shares during the period. 87.37% of the stock is currently owned by institutional investors and hedge funds.

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.