FIGS (NYSE:FIGS) Shares Down 4% – What’s Next?

FIGS, Inc. (NYSE:FIGS)’s share price was down 4% during mid-day trading on Thursday . The stock traded as low as $5.93 and last traded at $5.94. Approximately 630,814 shares changed hands during trading, a decline of 67% from the average daily volume of 1,887,821 shares. The stock had previously closed at $6.18.

Analysts Set New Price Targets

Several brokerages recently commented on FIGS. Barclays lowered their price target on FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 target price on shares of FIGS in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group cut their price target on shares of FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.35.

FIGS Stock Down 2.8 %

The company has a market cap of $1.02 billion, a P/E ratio of 100.12, a price-to-earnings-growth ratio of 36.06 and a beta of 1.24. The stock’s 50-day moving average price is $5.61 and its 200 day moving average price is $5.85.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. FIGS had a return on equity of 2.76% and a net margin of 1.97%. The business had revenue of $140.21 million for the quarter, compared to analyst estimates of $144.11 million. During the same period in the previous year, the company posted $0.03 earnings per share. Analysts expect that FIGS, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at FIGS

In other FIGS news, insider Heather L. Hasson sold 26,855 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.96, for a total value of $160,055.80. Following the completion of the transaction, the insider now owns 354,221 shares of the company’s stock, valued at $2,111,157.16. This represents a 7.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 22.30% of the company’s stock.

Institutional Trading of FIGS

A number of institutional investors and hedge funds have recently modified their holdings of FIGS. Sugar Maple Asset Management LLC bought a new stake in shares of FIGS in the 4th quarter worth about $43,000. Blue Trust Inc. grew its position in FIGS by 380.0% during the 4th quarter. Blue Trust Inc. now owns 7,407 shares of the company’s stock worth $51,000 after acquiring an additional 5,864 shares during the last quarter. Creative Planning grew its position in FIGS by 17.7% during the 3rd quarter. Creative Planning now owns 12,697 shares of the company’s stock worth $87,000 after acquiring an additional 1,911 shares during the last quarter. International Assets Investment Management LLC raised its position in FIGS by 787.0% in the 3rd quarter. International Assets Investment Management LLC now owns 13,926 shares of the company’s stock valued at $950,000 after purchasing an additional 12,356 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in FIGS in the third quarter worth $104,000. 92.21% of the stock is currently owned by institutional investors.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.