FIGS, Inc. (NYSE:FIGS) Short Interest Up 6.4% in August

FIGS, Inc. (NYSE:FIGS) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 20,480,000 shares, an increase of 6.4% from the August 15th total of 19,250,000 shares. Based on an average daily trading volume, of 3,820,000 shares, the short-interest ratio is currently 5.4 days. Approximately 16.0% of the shares of the company are short sold.

Insider Buying and Selling

In related news, insider Heather L. Hasson sold 40,149 shares of the firm’s stock in a transaction that occurred 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 directly owns 425,710 shares of the company’s stock, valued at approximately $2,426,547. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 44,591 shares of company stock valued at $255,460. Company insiders own 22.30% of the company’s stock.

Institutional Trading of FIGS

A number of hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise lifted its holdings in shares of FIGS by 50.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock worth $30,000 after acquiring an additional 2,000 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in FIGS by 6.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,564 shares of the company’s stock worth $270,000 after purchasing an additional 2,879 shares during the period. Janney Montgomery Scott LLC raised its position in FIGS by 23.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,977 shares of the company’s stock worth $85,000 after purchasing an additional 3,247 shares during the period. Price T Rowe Associates Inc. MD raised its position in FIGS by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,141 shares of the company’s stock worth $316,000 after purchasing an additional 4,038 shares during the period. Finally, Tandem Capital Management Corp ADV raised its position in FIGS by 3.3% in the 2nd quarter. Tandem Capital Management Corp ADV now owns 133,330 shares of the company’s stock worth $725,000 after purchasing an additional 4,200 shares during the period. 92.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several 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 company a “sell” rating in a report on Friday, August 9th. Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 price target on shares of FIGS in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.40.

FIGS Price Performance

NYSE:FIGS traded up $0.15 during trading hours on Thursday, hitting $5.72. The stock had a trading volume of 233,994 shares, compared to its average volume of 3,714,502. FIGS has a one year low of $4.30 and a one year high of $7.98. The firm has a market capitalization of $973.70 million, a price-to-earnings ratio of 50.68, a P/E/G ratio of 71.07 and a beta of 1.42. The company has a 50 day simple moving average of $5.81 and a two-hundred day simple moving average of $5.38.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter. FIGS had a net margin of 3.39% and a return on equity of 4.94%. The company had revenue of $144.23 million during the quarter, compared to the consensus estimate of $142.25 million. During the same period in the previous year, the firm posted $0.02 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that FIGS will post 0.03 earnings per share for the current 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.