FIGS (NYSE:FIGS) Stock Price Down 4.7% – Here’s What Happened

FIGS, Inc. (NYSE:FIGS) traded down 4.7% during mid-day trading on Tuesday . The stock traded as low as $14.51 and last traded at $14.4950. 136,674 shares changed hands during trading, a decline of 96% from the average session volume of 3,287,629 shares. The stock had previously closed at $15.21.

Wall Street Analyst Weigh In

FIGS has been the topic of a number of research reports. BTIG Research upped their target price on shares of FIGS from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. KeyCorp upped their price objective on FIGS from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Weiss Ratings upgraded FIGS from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. Zacks Research cut FIGS from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Roth Capital restated a “buy” rating on shares of FIGS in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.71.

FIGS Price Performance

The company has a market capitalization of $2.44 billion, a P/E ratio of 44.48 and a beta of 1.03. The business’s 50-day moving average price is $11.53 and its two-hundred day moving average price is $12.77.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.07 by $0.08. The business had revenue of $196.62 million for the quarter, compared to the consensus estimate of $186.17 million. FIGS had a return on equity of 12.53% and a net margin of 8.72%.The firm’s revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 EPS. Research analysts expect that FIGS, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of FIGS

A number of large investors have recently bought and sold shares of FIGS. UBS Group AG grew its holdings in shares of FIGS by 45.2% during the 4th quarter. UBS Group AG now owns 277,151 shares of the company’s stock worth $3,148,000 after purchasing an additional 86,268 shares in the last quarter. Jennison Associates LLC acquired a new position in FIGS in the fourth quarter valued at about $5,717,000. LGT Fund Management Co Ltd. bought a new stake in FIGS during the first quarter worth about $3,961,000. KBC Group NV acquired a new stake in FIGS during the first quarter worth about $3,782,000. Finally, Dimensional Fund Advisors LP grew its stake in FIGS by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,552,919 shares of the company’s stock worth $52,472,000 after buying an additional 257,644 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.