FIGS (NYSE:FIGS) Shares Gap Down – Here’s Why

FIGS, Inc. (NYSE:FIGS)’s share price gapped down prior to trading on Friday . The stock had previously closed at $6.67, but opened at $5.01. FIGS shares last traded at $4.59, with a volume of 1,509,749 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised their target price on 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 set a $7.00 price objective on shares of FIGS in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.60.

FIGS Trading Down 28.3 %

The stock’s 50 day moving average is $6.20 and its 200 day moving average is $5.72. The stock has a market capitalization of $816.71 million, a price-to-earnings ratio of 45.50, a PEG ratio of 82.80 and a beta of 1.44.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter. FIGS had a net margin of 3.39% and a return on equity of 4.94%. The business had revenue of $144.23 million during the quarter, compared to analysts’ expectations of $142.25 million. During the same period last year, the company posted $0.02 EPS. The company’s revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that FIGS, Inc. will post 0.03 EPS for the current year.

Institutional Investors Weigh In On FIGS

Hedge funds have recently modified their holdings of the company. Creative Planning boosted its stake in FIGS by 17.7% in the 3rd quarter. Creative Planning now owns 12,697 shares of the company’s stock worth $87,000 after buying an additional 1,911 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in FIGS by 6.0% in the second quarter. The Manufacturers Life Insurance Company now owns 50,564 shares of the company’s stock valued at $270,000 after purchasing an additional 2,879 shares during the period. Janney Montgomery Scott LLC increased its position in FIGS by 23.6% during the first 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 last quarter. Price T Rowe Associates Inc. MD increased its position in FIGS by 6.8% during the first 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 last quarter. Finally, Tandem Capital Management Corp ADV boosted its holdings in shares of FIGS by 3.3% in the 2nd quarter. Tandem Capital Management Corp ADV now owns 133,330 shares of the company’s stock valued at $725,000 after purchasing an additional 4,200 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.