FIGS, Inc. (NYSE:FIGS) Short Interest Update

FIGS, Inc. (NYSE:FIGSGet Rating) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 14,400,000 shares, a decline of 6.7% from the July 15th total of 15,430,000 shares. Based on an average daily volume of 4,100,000 shares, the short-interest ratio is presently 3.5 days. Currently, 11.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

FIGS has been the subject of several recent analyst reports. Piper Sandler began coverage on shares of FIGS in a research note on Friday, July 22nd. They set an “overweight” rating and a $15.00 price objective for the company. Bank of America downgraded FIGS from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $32.00 to $12.00 in a research note on Monday, May 16th. Barclays raised their target price on FIGS from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Morgan Stanley decreased their price objective on shares of FIGS from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, August 8th. Finally, The Goldman Sachs Group lowered FIGS from a “neutral” rating to a “sell” rating and cut their price target for the stock from $14.00 to $7.00 in a research report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.77.

Insider Activity

In other news, Director Michael J. Soenen purchased 10,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was bought at an average cost of $12.76 per share, for a total transaction of $127,600.00. Following the acquisition, the director now directly owns 34,425 shares of the company’s stock, valued at approximately $439,263. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On FIGS

Institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in shares of FIGS by 11.2% in the 2nd quarter. Macquarie Group Ltd. now owns 9,213,314 shares of the company’s stock valued at $83,934,000 after buying an additional 929,850 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of FIGS by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 8,494,827 shares of the company’s stock worth $182,809,000 after purchasing an additional 538,006 shares during the period. Guggenheim Capital LLC grew its stake in shares of FIGS by 1,267.2% during the 4th quarter. Guggenheim Capital LLC now owns 5,679,666 shares of the company’s stock worth $156,531,000 after acquiring an additional 5,264,244 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in FIGS by 9.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,398,137 shares of the company’s stock valued at $116,168,000 after acquiring an additional 457,016 shares during the period. Finally, BlackRock Inc. grew its stake in FIGS by 1.7% during the first quarter. BlackRock Inc. now owns 4,370,119 shares of the company’s stock valued at $94,045,000 after acquiring an additional 71,590 shares in the last quarter. Institutional investors own 70.56% of the company’s stock.

FIGS Trading Up 3.0 %

FIGS stock opened at $13.23 on Wednesday. The company has a fifty day simple moving average of $9.70 and a 200 day simple moving average of $14.08. FIGS has a 1 year low of $6.93 and a 1 year high of $48.63. The firm has a market cap of $2.19 billion, a PE ratio of 77.82, a PEG ratio of 44.57 and a beta of 1.65.

FIGS (NYSE:FIGSGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. FIGS had a net margin of 7.18% and a return on equity of 16.83%. The firm had revenue of $122.20 million for the quarter, compared to the consensus estimate of $117.96 million. During the same quarter in the previous year, the company earned ($0.26) earnings per share. The business’s revenue was up 20.9% compared to the same quarter last year. As a group, analysts forecast that FIGS will post 0.13 EPS for the current fiscal year.

About FIGS

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FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States. It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, and masks. It also offers sports bras, performance leggings, tops, super-soft pima cotton tops, vests, and jackets.

Further Reading

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