FIGS (NYSE:FIGS) Trading Down 4.7% – Time to Sell?

FIGS, Inc. (NYSE:FIGS)’s stock price traded down 4.7% on Tuesday . The stock traded as low as $14.51 and last traded at $14.4950. Approximately 136,674 shares traded hands during trading, a decline of 96% from the average session volume of 3,287,629 shares. The stock had previously closed at $15.21.

Analysts Set New Price Targets

A number of brokerages recently commented on FIGS. BTIG Research upped their target price on FIGS from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, August 7th. KeyCorp lifted their price target on shares of FIGS from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Zacks Research lowered shares of FIGS from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. Telsey Advisory Group dropped their price objective on shares of FIGS from $17.00 to $16.00 and set a “market perform” rating for the company in a research note on Friday, August 7th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $16.00 price objective on shares of FIGS in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.71.

FIGS Stock Performance

The stock has a 50-day moving average of $11.64 and a 200 day moving average of $12.83. The firm has a market capitalization of $2.54 billion, a P/E ratio of 46.30 and a beta of 1.03.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.08. The firm had revenue of $196.62 million during the quarter, compared to the consensus estimate of $186.17 million. FIGS had a return on equity of 12.53% and a net margin of 8.72%.The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS. On average, equities analysts predict that FIGS, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its position in FIGS by 167.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock worth $60,118,000 after purchasing an additional 2,546,905 shares during the last quarter. Marshall Wace LLP increased its stake in shares of FIGS by 66.2% in the 4th quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock valued at $48,824,000 after buying an additional 1,712,610 shares during the period. BNP Paribas Financial Markets raised its position in shares of FIGS by 2,139.7% during the second quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock worth $7,374,000 after acquiring an additional 1,249,091 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of FIGS during the second quarter worth $12,304,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of FIGS by 9.0% during the second quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock valued at $78,602,000 after acquiring an additional 1,144,962 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.