FIGS (NYSE:FIGS) Trading Down 5.4% – What’s Next?

FIGS, Inc. (NYSE:FIGS) was down 5.4% on Thursday . The company traded as low as $5.90 and last traded at $5.90. Approximately 846,345 shares changed hands during trading, a decline of 76% from the average daily volume of 3,497,590 shares. The stock had previously closed at $6.24.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Telsey Advisory Group reiterated a “market perform” rating and set a $7.00 price target on shares of FIGS in a research report on Wednesday, November 13th. Barclays decreased their price objective on FIGS from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group decreased their price target on shares of FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, FIGS has a consensus rating of “Hold” and a consensus price target of $5.35.

FIGS Stock Up 0.8 %

The company has a market cap of $1.03 billion, a PE ratio of 100.83, a price-to-earnings-growth ratio of 299.52 and a beta of 1.33. The firm has a fifty day simple moving average of $5.73 and a 200-day simple moving average of $5.70.

Hedge Funds Weigh In On FIGS

Institutional investors have recently bought and sold shares of the company. Bamco Inc. NY grew its position in FIGS by 12.5% during the third quarter. Bamco Inc. NY now owns 30,030,078 shares of the company’s stock worth $205,406,000 after buying an additional 3,342,755 shares during the period. Squarepoint Ops LLC increased its position in FIGS by 318.1% during the second quarter. Squarepoint Ops LLC now owns 1,516,131 shares of the company’s stock worth $8,081,000 after buying an additional 1,153,481 shares in the last quarter. Rice Hall James & Associates LLC acquired a new position in shares of FIGS in the second quarter worth $3,856,000. Millennium Management LLC lifted its position in shares of FIGS by 296.4% in the second quarter. Millennium Management LLC now owns 623,536 shares of the company’s stock valued at $3,323,000 after acquiring an additional 466,252 shares in the last quarter. Finally, Algert Global LLC boosted its stake in shares of FIGS by 175.4% during the second 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. 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.