FIGS (NYSE:FIGS) Trading Up 4.7%

FIGS, Inc. (NYSE:FIGS)’s stock price was up 4.7% during trading on Wednesday . The company traded as high as $4.66 and last traded at $4.65. Approximately 1,930,331 shares were traded during trading, a decline of 47% from the average daily volume of 3,642,981 shares. The stock had previously closed at $4.44.

Analysts Set New Price Targets

Several equities analysts have commented on FIGS shares. Bank of America reissued an “underperform” rating and issued a $4.50 target price (down from $8.50) on shares of FIGS in a report on Tuesday, April 2nd. Barclays decreased their target price on shares of FIGS from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, March 1st. The Goldman Sachs Group decreased their target price on shares of FIGS from $4.85 to $4.25 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 target price on shares of FIGS in a report on Thursday, June 13th. Finally, Roth Mkm reduced their price target on shares of FIGS from $7.50 to $6.75 and set a “buy” rating on the stock in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.30.

FIGS Trading Up 8.3 %

The firm’s 50-day moving average is $5.16 and its 200 day moving average is $5.65. The firm has a market capitalization of $818.81 million, a price-to-earnings ratio of 42.91, a P/E/G ratio of 59.20 and a beta of 1.42.

FIGS (NYSE:FIGS) last announced its earnings results on Thursday, May 9th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $119.29 million for the quarter, compared to the consensus estimate of $117.38 million. FIGS had a return on equity of 6.12% and a net margin of 4.07%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 EPS. Analysts predict that FIGS, Inc. will post 0.03 EPS for the current year.

Insider Activity at FIGS

In other news, insider Heather L. Hasson sold 28,614 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $4.89, for a total transaction of $139,922.46. Following the transaction, the insider now owns 468,870 shares of the company’s stock, valued at approximately $2,292,774.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 31,644 shares of company stock worth $155,648. 22.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On FIGS

Institutional investors and hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise lifted its holdings in shares of FIGS by 50.0% in the first quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock worth $30,000 after buying an additional 2,000 shares in the last quarter. Octavia Wealth Advisors LLC purchased a new stake in FIGS in the fourth quarter valued at approximately $75,000. International Assets Investment Management LLC purchased a new stake in FIGS in the fourth quarter valued at approximately $76,000. Counterpoint Mutual Funds LLC purchased a new stake in FIGS in the fourth quarter valued at approximately $90,000. Finally, Janney Montgomery Scott LLC purchased a new stake in FIGS in the third quarter valued at approximately $78,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

About FIGS

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.