FIGS (NYSE:FIGS) Trading 6% Higher – Still a Buy?

FIGS, Inc. (NYSE:FIGS)’s share price rose 6% on Thursday . The stock traded as high as $5.96 and last traded at $5.96. Approximately 520,219 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 3,480,539 shares. The stock had previously closed at $5.62.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FIGS. The Goldman Sachs Group cut their price objective on FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a research note on Tuesday, December 10th. Barclays dropped their price target on FIGS from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $7.00 target price on shares of FIGS in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.35.

FIGS Trading Up 0.2 %

The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 100.17, a PEG ratio of 299.52 and a beta of 1.33. The business has a 50-day moving average price of $5.60 and a two-hundred day moving average price of $5.73.

Institutional Investors Weigh In On FIGS

A number of hedge funds have recently added to or reduced their stakes in the stock. Bamco Inc. NY increased 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 worth $205,406,000 after acquiring an additional 3,342,755 shares during the period. Squarepoint Ops LLC increased its stake in shares of FIGS by 318.1% in the second quarter. Squarepoint Ops LLC now owns 1,516,131 shares of the company’s stock valued at $8,081,000 after purchasing an additional 1,153,481 shares during the period. Rice Hall James & Associates LLC bought a new stake in shares of FIGS during the second quarter valued at approximately $3,856,000. Millennium Management LLC boosted its position in shares of FIGS by 296.4% during the second quarter. Millennium Management LLC now owns 623,536 shares of the company’s stock worth $3,323,000 after buying an additional 466,252 shares during the period. Finally, Algert Global LLC grew its holdings in FIGS by 175.4% in the 2nd quarter. Algert Global LLC now owns 638,306 shares of the company’s stock worth $3,402,000 after buying an additional 406,556 shares in the last quarter. 92.21% of the stock is currently owned by 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.