ODDITY Tech (NASDAQ:ODD) Shares Down 5.6% – Here’s What Happened

ODDITY Tech Ltd. (NASDAQ:ODD)’s stock price traded down 5.6% during mid-day trading on Tuesday . The stock traded as low as $28.28 and last traded at $28.2170. 1,311,710 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 1,096,772 shares. The stock had previously closed at $29.90.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ODD shares. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of ODDITY Tech in a report on Thursday, November 20th. Zacks Research downgraded ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. KeyCorp reiterated an “overweight” rating on shares of ODDITY Tech in a research report on Friday. Wall Street Zen upgraded ODDITY Tech from a “sell” rating to a “hold” rating in a research note on Sunday, November 30th. Finally, Morgan Stanley dropped their price objective on ODDITY Tech from $61.00 to $49.00 and set an “equal weight” rating for the company in a research note on Friday, November 21st. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, ODDITY Tech has a consensus rating of “Moderate Buy” and an average target price of $64.40.

ODDITY Tech Trading Down 4.6%

The stock has a market capitalization of $1.59 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.28 and a beta of 3.18. The company has a current ratio of 7.54, a quick ratio of 6.42 and a debt-to-equity ratio of 1.53. The company has a 50-day moving average price of $35.34 and a 200 day moving average price of $46.22.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Wexford Capital LP acquired a new position in ODDITY Tech during the third quarter worth $40,000. Assetmark Inc. purchased a new stake in ODDITY Tech during the 2nd quarter worth approximately $54,000. Legal & General Group Plc acquired a new stake in shares of ODDITY Tech in the second quarter valued at $71,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ODDITY Tech by 134.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock valued at $69,000 after buying an additional 651 shares during the period. Finally, Headlands Technologies LLC purchased a new position in ODDITY Tech in the second quarter worth approximately $108,000. 35.88% of the stock is owned by institutional investors and hedge funds.

ODDITY Tech Company Profile

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.