FIGS (NYSE:FIGS) Hits New 52-Week Low – Time to Sell?

FIGS, Inc. (NYSE:FIGS)’s stock price hit a new 52-week low during mid-day trading on Saturday . The company traded as low as $4.18 and last traded at $4.35, with a volume of 4031968 shares traded. The stock had previously closed at $4.42.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FIGS. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 price target on shares of FIGS in a report on Friday, February 28th. The Goldman Sachs Group cut their target price on shares of FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.35.

FIGS Trading Down 1.7 %

The firm has a market capitalization of $706.31 million, a price-to-earnings ratio of 72.43, a price-to-earnings-growth ratio of 31.62 and a beta of 1.26. The company has a 50-day moving average of $5.32 and a 200-day moving average of $5.66.

Insiders Place Their Bets

In other news, insider Heather L. Hasson sold 26,855 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.96, for a total transaction of $160,055.80. Following the sale, the insider now directly owns 354,221 shares in the company, valued at approximately $2,111,157.16. This represents a 7.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FIGS

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of FIGS by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,977,364 shares of the company’s stock worth $20,369,000 after acquiring an additional 109,979 shares during the last quarter. Barclays PLC boosted its stake in FIGS by 152.5% during the 3rd quarter. Barclays PLC now owns 286,974 shares of the company’s stock valued at $1,963,000 after purchasing an additional 173,316 shares during the period. Applied Fundamental Research LLC grew its position in FIGS by 6.1% in the 3rd quarter. Applied Fundamental Research LLC now owns 2,648,281 shares of the company’s stock worth $18,114,000 after purchasing an additional 152,900 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of FIGS in the fourth quarter valued at approximately $12,152,000. Finally, Blue Trust Inc. raised its holdings in shares of FIGS by 395.3% during the fourth quarter. Blue Trust Inc. now owns 7,642 shares of the company’s stock valued at $47,000 after buying an additional 6,099 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.