FIGS, Inc. (NYSE:FIGS) Short Interest Down 13.4% in December

FIGS, Inc. (NYSE:FIGS) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 15,720,000 shares, a drop of 13.4% from the December 15th total of 18,150,000 shares. Approximately 12.3% of the company’s shares are short sold. Based on an average daily volume of 2,780,000 shares, the short-interest ratio is currently 5.7 days.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FIGS. The Goldman Sachs Group decreased their price target 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 reissued a “market perform” rating and issued a $7.00 price target on shares of FIGS in a research report on Wednesday, November 13th. Finally, Barclays decreased their price target 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.35.

FIGS Price Performance

Shares of FIGS traded down $0.20 during mid-day trading on Friday, reaching $5.93. The company’s stock had a trading volume of 1,775,834 shares, compared to its average volume of 2,126,489. The company’s 50 day moving average is $5.54 and its 200 day moving average is $5.84. The stock has a market cap of $1.01 billion, a PE ratio of 98.75, a price-to-earnings-growth ratio of 35.88 and a beta of 1.24. FIGS has a 12-month low of $4.30 and a 12-month high of $7.05.

Insider Buying and Selling

In other FIGS news, insider Heather L. Hasson sold 26,855 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 trade represents a 7.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 22.30% of the stock is currently owned by corporate insiders.

Institutional Trading of FIGS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bamco Inc. NY boosted its holdings in shares of FIGS by 12.5% in the 3rd quarter. Bamco Inc. NY now owns 30,030,078 shares of the company’s stock valued at $205,406,000 after buying an additional 3,342,755 shares in the last quarter. Squarepoint Ops LLC raised its stake in FIGS by 318.1% during the 2nd quarter. Squarepoint Ops LLC now owns 1,516,131 shares of the company’s stock worth $8,081,000 after acquiring an additional 1,153,481 shares in the last quarter. Millennium Management LLC raised its stake in FIGS by 296.4% during the 2nd quarter. Millennium Management LLC now owns 623,536 shares of the company’s stock worth $3,323,000 after acquiring an additional 466,252 shares in the last quarter. Algert Global LLC raised its stake in FIGS by 175.4% during the 2nd quarter. Algert Global LLC now owns 638,306 shares of the company’s stock worth $3,402,000 after acquiring an additional 406,556 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in FIGS by 165.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 598,028 shares of the company’s stock worth $4,091,000 after acquiring an additional 372,693 shares in the last quarter. Institutional investors and hedge funds 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.