ODDITY Tech (NASDAQ:ODD) Stock Falls 6.2% – Time to Sell?

ODDITY Tech Ltd. (NASDAQ:ODD) dropped 6.2% during mid-day trading on Wednesday. The stock traded as low as $22.33 and last traded at $22.0750. Approximately 226,122 shares changed hands during trading, a decline of 86% from the average daily volume of 1,595,368 shares. The stock had previously closed at $23.53.

Analyst Upgrades and Downgrades

ODD has been the topic of a number of recent research reports. Bank of America restated an “underperform” rating on shares of ODDITY Tech in a research report on Thursday, September 10th. Truist Financial lifted their target price on ODDITY Tech from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, September 10th. JPMorgan Chase & Co. started coverage on ODDITY Tech in a research report on Monday, September 21st. They set a “neutral” rating and a $18.00 target price on the stock. Jefferies Financial Group boosted their target price on ODDITY Tech from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday, September 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $22.35.

ODDITY Tech Stock Down 5.8%

The company’s fifty day moving average price is $17.09 and its 200-day moving average price is $15.20. The stock has a market cap of $1.28 billion, a P/E ratio of 92.10 and a beta of 2.24. The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.11 and a current ratio of 3.45.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $180.52 million for the quarter, compared to the consensus estimate of $178.23 million. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The firm’s revenue was down 24.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. Equities analysts forecast that ODDITY Tech Ltd. will post -0.25 EPS for the current year.

Insider Transactions at ODDITY Tech

In other ODDITY Tech news, CFO Mann Drucker sold 7,717 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $15.09, for a total transaction of $116,449.53. Following the completion of the transaction, the chief financial officer owned 116,135 shares in the company, valued at $1,752,477.15. The trade was a 6.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 62,852 shares of company stock valued at $938,716 over the last ninety days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of ODDITY Tech in the first quarter worth approximately $104,000. Sigma Planning Corp boosted its holdings in ODDITY Tech by 52.0% during the 1st quarter. Sigma Planning Corp now owns 10,535 shares of the company’s stock valued at $141,000 after acquiring an additional 3,605 shares during the period. Blue Trust Inc. boosted its holdings in ODDITY Tech by 14.9% during the 1st quarter. Blue Trust Inc. now owns 11,359 shares of the company’s stock valued at $152,000 after acquiring an additional 1,470 shares during the period. USS Investment Management Ltd grew its position in ODDITY Tech by 6.4% in the 1st quarter. USS Investment Management Ltd now owns 14,633 shares of the company’s stock valued at $196,000 after acquiring an additional 880 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in ODDITY Tech in the 2nd quarter valued at $300,000. Institutional investors own 35.88% of the company’s stock.

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a technology-driven beauty and wellness company that develops and markets consumer brands through digital, direct-to-consumer channels. The company uses data science, artificial intelligence and technology-enabled personalization to help consumers discover products and make purchasing decisions online.

ODDITY’s portfolio includes IL MAKIAGE, a digitally native makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand focused on personalized routines and treatments.