Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX – Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as $2.43 and last traded at $2.58, with a volume of 356686 shares. The stock had previously closed at $2.61.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on OLPX shares. Piper Sandler cut shares of Olaplex from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $3.00 to $2.00 in a research report on Friday. Bank of America decreased their target price on shares of Olaplex from $4.00 to $3.25 in a research report on Wednesday, May 10th. Truist Financial decreased their target price on shares of Olaplex from $15.00 to $7.00 in a research report on Wednesday, August 9th. Barclays decreased their target price on shares of Olaplex from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Thursday, August 10th. Finally, Canaccord Genuity Group cut shares of Olaplex from a “buy” rating to a “hold” rating and decreased their target price for the company from $5.00 to $3.00 in a research report on Friday, August 11th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Olaplex presently has a consensus rating of “Hold” and an average price target of $5.63.
Check Out Our Latest Stock Report on OLPX
Olaplex Trading Up 1.1 %
Olaplex (NASDAQ:OLPX – Get Free Report) last issued its earnings results on Tuesday, August 8th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $109.24 million for the quarter, compared to analysts’ expectations of $129.86 million. Olaplex had a return on equity of 21.92% and a net margin of 22.92%. The business’s revenue was down 48.2% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. On average, sell-side analysts expect that Olaplex Holdings, Inc. will post 0.15 EPS for the current fiscal year.
Hedge Funds Weigh In On Olaplex
Several institutional investors have recently bought and sold shares of the business. American International Group Inc. increased its holdings in Olaplex by 98.6% during the second quarter. American International Group Inc. now owns 1,940 shares of the company’s stock valued at $27,000 after buying an additional 963 shares during the period. Captrust Financial Advisors increased its holdings in Olaplex by 156.2% during the second quarter. Captrust Financial Advisors now owns 1,998 shares of the company’s stock valued at $28,000 after buying an additional 1,218 shares during the period. Rhumbline Advisers increased its holdings in Olaplex by 2.4% during the first quarter. Rhumbline Advisers now owns 62,830 shares of the company’s stock valued at $982,000 after buying an additional 1,456 shares during the period. Wells Fargo & Company MN increased its holdings in Olaplex by 26.4% during the fourth quarter. Wells Fargo & Company MN now owns 8,345 shares of the company’s stock valued at $43,000 after buying an additional 1,744 shares during the period. Finally, First Manhattan Co. increased its holdings in Olaplex by 6,000.0% during the first quarter. First Manhattan Co. now owns 2,135 shares of the company’s stock valued at $33,000 after buying an additional 2,100 shares during the period. 91.63% of the stock is owned by hedge funds and other institutional investors.
Olaplex Company Profile
Olaplex Holdings, Inc develops, manufactures, and sells hair care products. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.
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