FIGS, Inc. (NYSE:FIGS) Short Interest Up 10.3% in August

FIGS, Inc. (NYSE:FIGS) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 19,250,000 shares, an increase of 10.3% from the July 31st total of 17,460,000 shares. Approximately 15.1% of the shares of the company are short sold. Based on an average daily volume of 3,590,000 shares, the short-interest ratio is currently 5.4 days.

Insider Activity

In other news, insider Heather L. Hasson sold 40,149 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $5.70, for a total value of $228,849.30. Following the completion of the transaction, the insider now owns 425,710 shares in the company, valued at approximately $2,426,547. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 41,608 shares of company stock worth $236,995. Company insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On FIGS

Hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise lifted its position in shares of FIGS by 50.0% during the first quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock worth $30,000 after purchasing an additional 2,000 shares in the last quarter. Dakota Wealth Management acquired a new position in FIGS during the 2nd quarter worth $57,000. Counterpoint Mutual Funds LLC acquired a new position in FIGS during the 4th quarter worth $90,000. Verus Capital Partners LLC bought a new position in FIGS in the 2nd quarter valued at $79,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of FIGS by 23.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,977 shares of the company’s stock valued at $85,000 after buying an additional 3,247 shares during the period. Institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group raised their price target on shares of FIGS from $4.25 to $4.75 and gave the stock a “sell” rating in a research note on Friday, August 9th. Telsey Advisory Group restated a “market perform” rating and set a $6.00 target price on shares of FIGS in a research report on Monday, August 5th. Finally, Roth Mkm lowered their price target on FIGS from $7.50 to $6.75 and set a “buy” rating on the stock in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, FIGS has a consensus rating of “Hold” and a consensus price target of $5.40.

FIGS Stock Performance

Shares of NYSE FIGS traded up $0.06 during mid-day trading on Tuesday, hitting $6.23. 5,234,263 shares of the stock were exchanged, compared to its average volume of 3,754,152. FIGS has a twelve month low of $4.30 and a twelve month high of $7.98. The stock’s fifty day simple moving average is $5.74 and its two-hundred day simple moving average is $5.40. The company has a market cap of $1.06 billion, a P/E ratio of 57.27, a PEG ratio of 82.27 and a beta of 1.42.

FIGS (NYSE:FIGS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $144.23 million during the quarter, compared to analysts’ expectations of $142.25 million. FIGS had a return on equity of 4.94% and a net margin of 3.39%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $0.02 EPS. As a group, equities research analysts predict that FIGS will post 0.03 earnings per share for the current fiscal year.

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.