Olaplex (NASDAQ:OLPX) Hits New 12-Month Low – Time to Sell?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price hit a new 52-week low on Thursday . The company traded as low as $1.17 and last traded at $1.21, with a volume of 261097 shares. The stock had previously closed at $1.32.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of Olaplex from $1.50 to $2.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a research note on Wednesday, March 12th. Finally, Barclays increased their target price on Olaplex from $1.50 to $1.70 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th.

Olaplex Price Performance

The firm has a market cap of $737.73 million, a price-to-earnings ratio of 18.50 and a beta of 2.44. The stock’s 50-day moving average price is $1.43 and its 200 day moving average price is $1.77. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73.

Insiders Place Their Bets

In related news, insider Trisha L. Fox sold 26,526 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $38,197.44. Following the completion of the transaction, the insider now directly owns 461,548 shares of the company’s stock, valued at $664,629.12. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel John C. Duffy sold 35,013 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.44, for a total transaction of $50,418.72. Following the completion of the sale, the general counsel now directly owns 348,630 shares in the company, valued at $502,027.20. This trade represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Olaplex

A number of institutional investors have recently added to or reduced their stakes in OLPX. Chemistry Wealth Management LLC bought a new position in shares of Olaplex during the 4th quarter worth approximately $25,000. Hsbc Holdings PLC acquired a new position in Olaplex during the fourth quarter worth $34,000. BNP Paribas Financial Markets bought a new position in shares of Olaplex during the fourth quarter valued at $35,000. Cornerstone Wealth Management LLC acquired a new stake in shares of Olaplex in the 4th quarter valued at $36,000. Finally, Parkside Financial Bank & Trust increased its position in shares of Olaplex by 290.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company’s stock worth $37,000 after purchasing an additional 15,911 shares in the last quarter. 87.37% of the stock is owned by institutional investors and hedge funds.

Olaplex Company Profile

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.