FIGS (NYSE:FIGS) Trading Down 3.2% – Time to Sell?

FIGS, Inc. (NYSE:FIGS)’s stock price fell 3.2% on Thursday . The stock traded as low as $5.95 and last traded at $5.99. 388,852 shares were traded during mid-day trading, a decline of 89% from the average session volume of 3,472,006 shares. The stock had previously closed at $6.19.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays dropped their price objective on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Telsey Advisory Group restated a “market perform” rating and issued a $7.00 price target on shares of FIGS in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group reduced their price objective on FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.35.

FIGS Stock Up 0.3 %

The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 98.50, a PEG ratio of 299.52 and a beta of 1.33. The company’s fifty day moving average is $5.58 and its two-hundred day moving average is $5.76.

Institutional Trading of FIGS

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning lifted its stake in FIGS by 17.7% during the third quarter. Creative Planning now owns 12,697 shares of the company’s stock worth $87,000 after purchasing an additional 1,911 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of FIGS by 787.0% during the third quarter. International Assets Investment Management LLC now owns 13,926 shares of the company’s stock worth $950,000 after purchasing an additional 12,356 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of FIGS in the 3rd quarter valued at about $104,000. Aigen Investment Management LP boosted its position in shares of FIGS by 40.3% in the 3rd quarter. Aigen Investment Management LP now owns 22,840 shares of the company’s stock valued at $156,000 after purchasing an additional 6,562 shares during the period. Finally, Paloma Partners Management Co purchased a new position in FIGS during the 3rd quarter worth approximately $163,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

FIGS Company Profile

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.