Olaplex (NASDAQ:OLPX) Shares Gap Down to $1.85

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) gapped down before the market opened on Tuesday . The stock had previously closed at $1.85, but opened at $1.79. Olaplex shares last traded at $2.08, with a volume of 239,219 shares.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a report on Tuesday. Seven investment 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, Olaplex currently has a consensus rating of “Hold” and a consensus target price of $2.51.

Olaplex Price Performance

The company has a market capitalization of $1.47 billion, a P/E ratio of 30.84 and a beta of 2.42. The company has a fifty day moving average price of $1.74 and a 200 day moving average price of $1.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 10.71 and a quick ratio of 9.12.

Hedge Funds Weigh In On Olaplex

Institutional investors have recently made changes to their positions in the stock. Norden Group LLC grew its holdings in Olaplex by 41.4% in the 2nd quarter. Norden Group LLC now owns 51,803 shares of the company’s stock worth $80,000 after buying an additional 15,165 shares in the last quarter. Rhumbline Advisers grew its holdings in Olaplex by 34.9% in the 2nd quarter. Rhumbline Advisers now owns 153,442 shares of the company’s stock worth $236,000 after buying an additional 39,698 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Olaplex by 29.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock worth $1,451,000 after buying an additional 212,129 shares in the last quarter. Catalina Capital Group LLC grew its holdings in Olaplex by 51.3% in the 2nd quarter. Catalina Capital Group LLC now owns 24,088 shares of the company’s stock worth $37,000 after buying an additional 8,172 shares in the last quarter. Finally, Wedmont Private Capital grew its holdings in Olaplex by 148.2% in the 2nd quarter. Wedmont Private Capital now owns 91,315 shares of the company’s stock worth $151,000 after buying an additional 54,521 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.