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

FIGS, Inc. (NYSE:FIGS) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 20,480,000 shares, a growth of 6.4% from the August 15th total of 19,250,000 shares. Based on an average trading volume of 3,820,000 shares, the days-to-cover ratio is currently 5.4 days. Currently, 16.0% of the shares of the stock are short sold.

FIGS Price Performance

NYSE FIGS traded up $0.21 on Tuesday, reaching $5.62. The company had a trading volume of 2,319,312 shares, compared to its average volume of 3,732,067. The firm has a market capitalization of $955.83 million, a PE ratio of 51.00, a P/E/G ratio of 71.07 and a beta of 1.42. The firm has a 50-day moving average of $5.80 and a 200-day moving average of $5.37. FIGS has a 1 year low of $4.30 and a 1 year high of $7.98.

FIGS (NYSE:FIGS) last posted 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 company had revenue of $144.23 million during the quarter, compared to analysts’ expectations of $142.25 million. During the same period in the prior year, the company posted $0.02 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts expect that FIGS will post 0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FIGS shares. The Goldman Sachs Group lifted 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 reiterated a “market perform” rating and set a $6.00 price objective on shares of FIGS in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.40.

Insider Activity

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 transaction of $228,849.30. Following the sale, the insider now owns 425,710 shares in the company, valued at $2,426,547. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 44,591 shares of company stock worth $255,460 over the last three months. 22.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FIGS

A number of hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new position in shares of FIGS in the 2nd quarter valued at approximately $458,000. Algert Global LLC boosted its stake in FIGS by 175.4% during the 2nd quarter. Algert Global LLC now owns 638,306 shares of the company’s stock valued at $3,402,000 after acquiring an additional 406,556 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in FIGS by 6.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,564 shares of the company’s stock worth $270,000 after acquiring an additional 2,879 shares in the last quarter. Millennium Management LLC increased its position in shares of FIGS by 296.4% in the 2nd quarter. Millennium Management LLC now owns 623,536 shares of the company’s stock worth $3,323,000 after purchasing an additional 466,252 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of FIGS by 114.3% in the 2nd quarter. AQR Capital Management LLC now owns 50,805 shares of the company’s stock valued at $271,000 after purchasing an additional 27,098 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.