FIGS (NYSE:FIGS) Shares Down 4% – Here’s Why

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

Wall Street Analyst Weigh In

Several brokerages recently 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. Barclays cut their target price on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 price target on shares of FIGS in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.35.

FIGS Price Performance

The firm has a market capitalization of $987.45 million, a P/E ratio of 96.92, a price-to-earnings-growth ratio of 37.08 and a beta of 1.24. The stock’s 50-day simple moving average is $5.65 and its two-hundred day simple moving average is $5.86.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, November 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. FIGS had a net margin of 1.97% and a return on equity of 2.76%. The firm had revenue of $140.21 million during the quarter, compared to analyst estimates of $144.11 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, analysts forecast that FIGS, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Heather L. Hasson sold 26,855 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.96, for a total transaction of $160,055.80. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On FIGS

Hedge funds have recently bought and sold shares of the business. Sugar Maple Asset Management LLC purchased a new stake in FIGS during the fourth quarter valued at $43,000. Blue Trust Inc. raised its stake in shares of FIGS by 380.0% in the fourth quarter. Blue Trust Inc. now owns 7,407 shares of the company’s stock valued at $51,000 after acquiring an additional 5,864 shares during the period. Creative Planning raised its stake in shares of FIGS by 17.7% in the third quarter. Creative Planning now owns 12,697 shares of the company’s stock valued at $87,000 after acquiring an additional 1,911 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of FIGS in the third quarter valued at $104,000. Finally, Aigen Investment Management LP raised its stake in shares of FIGS by 40.3% in the third quarter. Aigen Investment Management LP now owns 22,840 shares of the company’s stock valued at $156,000 after acquiring an additional 6,562 shares during the period. 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.