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

Shares of FIGS, Inc. (NYSE:FIGS) gapped down before the market opened 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 traded.

Analyst Ratings Changes

A number of research firms recently commented on FIGS. Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 price target on shares of FIGS in a research note on Monday, November 4th. The Goldman Sachs Group lifted their target price on FIGS from $4.25 to $4.75 and gave the stock a “sell” rating in a research report on Friday, August 9th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.60.

FIGS Price Performance

The stock’s fifty day simple moving average is $6.17 and its 200-day simple moving average is $5.73. The stock has a market cap of $816.71 million, a P/E ratio of 47.80, a PEG ratio of 85.47 and a beta of 1.44.

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

Institutional Trading of FIGS

Several hedge funds have recently bought and sold shares of the company. Dakota Wealth Management bought a new position in FIGS in the 2nd quarter worth about $57,000. Creative Planning boosted its position in shares of FIGS by 17.7% during the third 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 period. International Assets Investment Management LLC grew its holdings in FIGS by 787.0% in the 3rd quarter. International Assets Investment Management LLC now owns 13,926 shares of the company’s stock worth $950,000 after buying an additional 12,356 shares in the last quarter. Verus Capital Partners LLC bought a new position in FIGS in the 2nd quarter worth approximately $79,000. Finally, GSA Capital Partners LLP acquired a new stake in FIGS in the 3rd quarter valued at approximately $104,000. 92.21% of the stock is currently owned by institutional investors.

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.