Olaplex (NASDAQ:OLPX) Shares Gap Down to $1.85

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares gapped down before the market opened on Tuesday . The stock had previously closed at $1.85, but opened at $1.79. Olaplex shares last traded at $2.08, with a volume of 239,219 shares.

Wall Street Analysts Forecast Growth

Separately, 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. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.51.

Olaplex Stock Up 19.7 %

The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 30.84 and a beta of 2.42. The business’s 50-day moving average is $1.74 and its two-hundred day moving average is $1.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 9.12 and a current ratio of 10.71.

Institutional Trading of Olaplex

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Olaplex by 8.4% in the first quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock valued at $22,915,000 after acquiring an additional 929,693 shares during the period. Sanders Morris Harris LLC acquired a new position in shares of Olaplex in the 1st quarter valued at approximately $660,000. Allspring Global Investments Holdings LLC increased its stake in Olaplex by 119,729.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 336,722 shares of the company’s stock worth $855,000 after purchasing an additional 336,441 shares in the last quarter. Norden Group LLC bought a new stake in Olaplex during the 1st quarter worth approximately $563,000. Finally, Bank of New York Mellon Corp raised its holdings in Olaplex by 29.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock worth $1,451,000 after buying an additional 212,129 shares during the period. 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.