Olaplex (NASDAQ:OLPX) Hits New 52-Week Low at $22.53

Olaplex Holdings Inc (NASDAQ:OLPX) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $22.53 and last traded at $22.79, with a volume of 174649 shares. The stock had previously closed at $23.89.

Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Olaplex from a “buy” rating to a “hold” rating in a research note on Wednesday, December 29th. Barclays started coverage on shares of Olaplex in a report on Monday, October 25th. They set an “equal weight” rating and a $32.00 price target on the stock. Bank of America started coverage on shares of Olaplex in a report on Monday, October 25th. They set a “buy” rating and a $37.00 price target on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $34.00 price target on shares of Olaplex in a report on Monday, October 25th. Finally, Cowen initiated coverage on shares of Olaplex in a research report on Monday, October 25th. They set an “outperform” rating and a $33.00 target price on the stock. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Olaplex currently has a consensus rating of “Buy” and an average target price of $34.33.

The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.89 and a current ratio of 3.95. The business’s 50-day moving average price is $26.33.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Wednesday, November 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $161.62 million during the quarter, compared to analysts’ expectations of $145.06 million. On average, equities analysts forecast that Olaplex Holdings Inc will post 0.39 earnings per share for the current fiscal year.

In related news, Director Martha A. M. Morfitt acquired 24,000 shares of the firm’s stock in a transaction that occurred on Friday, November 12th. The shares were bought at an average cost of $25.97 per share, for a total transaction of $623,280.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Several institutional investors have recently modified their holdings of OLPX. BlackRock Inc. bought a new position in shares of Olaplex in the third quarter worth approximately $150,725,000. Janus Henderson Group PLC purchased a new position in shares of Olaplex in the 3rd quarter worth about $109,020,000. Citadel Advisors LLC purchased a new position in shares of Olaplex in the 3rd quarter worth about $102,712,000. Viking Global Investors LP purchased a new position in shares of Olaplex in the 3rd quarter worth about $74,048,000. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Olaplex in the 3rd quarter worth about $40,067,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

About Olaplex (NASDAQ:OLPX)

Olaplex Holdings Inc is a technology-driven beauty company. The brand’s products have an active, patent-protected ingredient which works on a molecular level to protect and repair hair from damage. The company’s products are sold through omni-channel platform serving the professional, specialty retail and direct-to-consumer channels.

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