Olaplex (NASDAQ:OLPX) Cut to “Sell” at Wall Street Zen

Olaplex (NASDAQ:OLPX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

A number of other research firms also recently weighed in on OLPX. Jefferies Financial Group began coverage on shares of Olaplex in a research report on Wednesday, January 14th. They issued a “hold” rating and a $1.50 price target for the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a report on Friday, November 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Olaplex in a report on Thursday, January 22nd. Barclays set a $1.75 price target on Olaplex in a research report on Friday, January 16th. Finally, Northland Securities started coverage on shares of Olaplex in a research report on Thursday, November 20th. They set an “outperform” rating and a $2.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $1.85.

Olaplex Trading Up 2.6%

Shares of OLPX stock opened at $1.56 on Friday. Olaplex has a 12-month low of $0.99 and a 12-month high of $1.84. The company has a market capitalization of $1.04 billion, a PE ratio of 78.00 and a beta of 2.26. The firm has a 50 day moving average price of $1.47 and a two-hundred day moving average price of $1.34. The company has a quick ratio of 3.52, a current ratio of 4.16 and a debt-to-equity ratio of 0.40.

Hedge Funds Weigh In On Olaplex

A number of institutional investors and hedge funds have recently bought and sold shares of OLPX. R Squared Ltd acquired a new stake in shares of Olaplex during the second quarter valued at about $25,000. Headlands Technologies LLC bought a new stake in Olaplex during the 4th quarter worth approximately $25,000. Chilton Capital Management LLC bought a new position in shares of Olaplex during the third quarter valued at $26,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Olaplex during the third quarter worth $30,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Olaplex in the third quarter worth $32,000. Institutional investors and hedge funds own 87.37% of the company’s stock.

About Olaplex

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.