FIGS (NYSE:FIGS) Hits New 1-Year Low – Here’s What Happened

FIGS, Inc. (NYSE:FIGS)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $3.57 and last traded at $3.66, with a volume of 366604 shares traded. The stock had previously closed at $3.62.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FIGS. The Goldman Sachs Group cut their target price on shares of FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a research report on Tuesday, December 10th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 target price on shares of FIGS in a research note on Friday, February 28th.

FIGS Price Performance

The stock has a market capitalization of $642.77 million, a PE ratio of 66.20, a P/E/G ratio of 31.62 and a beta of 1.18. The company has a 50-day moving average of $4.91 and a two-hundred day moving average of $5.55.

Hedge Funds Weigh In On FIGS

A number of large investors have recently bought and sold shares of FIGS. GAMMA Investing LLC increased its holdings in shares of FIGS by 585.8% during the 1st quarter. GAMMA Investing LLC now owns 6,536 shares of the company’s stock worth $30,000 after buying an additional 5,583 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new stake in shares of FIGS during the 4th quarter worth about $43,000. Blue Trust Inc. increased its position in FIGS by 395.3% during the 4th quarter. Blue Trust Inc. now owns 7,642 shares of the company’s stock worth $47,000 after purchasing an additional 6,099 shares in the last quarter. Stifel Financial Corp purchased a new stake in FIGS during the fourth quarter worth approximately $70,000. Finally, Cibc World Markets Corp acquired a new stake in shares of FIGS in the fourth quarter worth $75,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.