Olaplex (NASDAQ:OLPX) Shares Gap Down – Time to Sell?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a research note on Friday, November 7th. Barclays cut their price target on Olaplex from $1.50 to $1.25 and set an “equal weight” rating for the company in a report on Monday, November 10th. Wall Street Zen cut Olaplex from a “hold” rating to a “sell” rating in a research report on Saturday, November 29th. Zacks Research raised shares of Olaplex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Canaccord Genuity Group raised shares of Olaplex from a “hold” rating to a “buy” rating and increased their price target for the company from $1.50 to $2.00 in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Olaplex presently has a consensus rating of “Hold” and a consensus target price of $1.85.

Olaplex Trading Down 3.1%

The firm has a market capitalization of $847.74 million, a P/E ratio of 63.50 and a beta of 2.28. The business has a 50-day moving average price of $1.14 and a 200-day moving average price of $1.32. The company has a quick ratio of 3.52, a current ratio of 4.16 and a debt-to-equity ratio of 0.40.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. Olaplex had a negative net margin of 1.18% and a positive return on equity of 1.31%. The firm had revenue of $114.58 million for the quarter, compared to the consensus estimate of $109.77 million. During the same quarter in the previous year, the company earned $0.04 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year. Analysts anticipate that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OLPX. R Squared Ltd acquired a new stake in Olaplex during the second quarter valued at approximately $25,000. Chilton Capital Management LLC acquired a new stake in Olaplex in the 3rd quarter valued at $26,000. Schonfeld Strategic Advisors LLC bought a new stake in Olaplex in the third quarter valued at $30,000. Wealth Enhancement Advisory Services LLC acquired a new position in Olaplex during the third quarter worth $32,000. Finally, BNP Paribas Financial Markets raised its stake in Olaplex by 95.4% during the third quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock worth $39,000 after acquiring an additional 14,507 shares in the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.

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.