Olaplex (NASDAQ:OLPX) Trading Down 7.8%

Olaplex Holdings, Inc. (NASDAQ:OLPX) fell 7.8% on Friday . The company traded as low as $2.37 and last traded at $2.38. 891,060 shares were traded during mid-day trading, a decline of 60% from the average session volume of 2,234,853 shares. The stock had previously closed at $2.58.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OLPX. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a research note on Tuesday, August 6th. TD Cowen lifted their target price on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.18.

Olaplex Price Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 7.85 and a current ratio of 9.27. The company has a 50-day simple moving average of $2.07 and a 200-day simple moving average of $1.79. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 34.00 and a beta of 2.42.

Olaplex (NASDAQ:OLPX) last released its earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $103.90 million for the quarter, compared to analysts’ expectations of $103.65 million. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. As a group, research analysts predict that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Insider Activity at Olaplex

In related news, Director John P. Bilbrey bought 183,493 shares of Olaplex stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average price of $2.05 per share, with a total value of $376,160.65. Following the purchase, the director now owns 241,593 shares in the company, valued at $495,265.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Olaplex during the 2nd quarter worth $33,000. Algert Global LLC purchased a new position in shares of Olaplex during the 2nd quarter worth $87,000. Scion Asset Management LLC purchased a new position in shares of Olaplex during the 2nd quarter worth $1,533,000. The Manufacturers Life Insurance Company lifted its stake in shares of Olaplex by 126.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 80,843 shares of the company’s stock worth $124,000 after purchasing an additional 45,133 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Olaplex by 20.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,073,878 shares of the company’s stock worth $1,654,000 after purchasing an additional 184,091 shares during the period. Hedge funds and other institutional investors 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.