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

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) gapped down before the market opened on Friday . The stock had previously closed at $1.31, but opened at $1.19. Olaplex shares last traded at $1.2750, with a volume of 702,332 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen downgraded Olaplex from a “hold” rating to a “sell” rating in a report on Saturday, November 29th. Barclays decreased their price objective on shares of Olaplex from $1.50 to $1.25 and set an “equal weight” rating for the company in a report on Monday, November 10th. Canaccord Genuity Group raised shares of Olaplex from a “hold” rating to a “buy” rating and lifted their price target for the company from $1.50 to $2.00 in a research report on Monday, August 25th. Zacks Research upgraded Olaplex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $1.85.

Olaplex Stock Down 5.7%

The firm has a 50 day moving average of $1.14 and a 200-day moving average of $1.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.16 and a quick ratio of 3.52. The stock has a market capitalization of $824.37 million, a P/E ratio of 68.00 and a beta of 2.28.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $114.58 million for the quarter, compared to analysts’ expectations of $109.77 million. Olaplex had a positive return on equity of 1.31% and a negative net margin of 1.18%.Olaplex’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 earnings per share. On average, equities research analysts expect that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Olaplex

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning increased its stake in Olaplex by 35.0% in the second quarter. Creative Planning now owns 37,357 shares of the company’s stock valued at $52,000 after acquiring an additional 9,690 shares during the period. Intech Investment Management LLC boosted its holdings in Olaplex by 15.8% during the third quarter. Intech Investment Management LLC now owns 74,780 shares of the company’s stock valued at $98,000 after purchasing an additional 10,192 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Olaplex by 27.4% in the 3rd quarter. Arizona State Retirement System now owns 49,263 shares of the company’s stock valued at $65,000 after purchasing an additional 10,609 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Olaplex by 20.0% in the 1st quarter. MetLife Investment Management LLC now owns 70,438 shares of the company’s stock worth $89,000 after buying an additional 11,759 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Olaplex by 95.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock worth $39,000 after buying an additional 14,507 shares during the period. 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.