Olaplex (NASDAQ:OLPX) Stock Rating Lowered by Wall Street Zen

Olaplex (NASDAQ:OLPX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

A number of other research analysts also recently issued reports on OLPX. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a research report on Thursday, January 22nd. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a report on Friday, November 7th. Barclays set a $1.75 price objective on shares of Olaplex in a research note on Friday, January 16th. Northland Securities initiated coverage on shares of Olaplex in a research report on Thursday, November 20th. They set an “outperform” rating and a $2.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on Olaplex in a research report on Wednesday, January 14th. They issued a “hold” rating and a $1.50 price target on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $1.85.

Olaplex Stock Performance

Shares of NASDAQ OLPX opened at $1.56 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.52 and a current ratio of 4.16. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 78.00 and a beta of 2.26. The business’s 50-day simple moving average is $1.47 and its 200-day simple moving average is $1.34. Olaplex has a 52 week low of $0.99 and a 52 week high of $1.84.

Institutional Investors Weigh In On Olaplex

Institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning lifted its stake in Olaplex by 35.0% in the 2nd quarter. Creative Planning now owns 37,357 shares of the company’s stock valued at $52,000 after purchasing an additional 9,690 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Olaplex by 15.8% in the third quarter. Intech Investment Management LLC now owns 74,780 shares of the company’s stock valued at $98,000 after buying an additional 10,192 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Olaplex by 27.4% in the third quarter. Arizona State Retirement System now owns 49,263 shares of the company’s stock valued at $65,000 after buying an additional 10,609 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Olaplex by 95.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock worth $39,000 after acquiring an additional 14,507 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Olaplex during the 2nd quarter worth approximately $25,000. Institutional investors own 87.37% of the company’s stock.

About Olaplex

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.