FIGS, Inc. (NYSE:FIGS) Short Interest Down 13.4% in December

FIGS, Inc. (NYSE:FIGS) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 15,720,000 shares, a decline of 13.4% from the December 15th total of 18,150,000 shares. Currently, 12.3% of the shares of the company are sold short. Based on an average trading volume of 2,780,000 shares, the short-interest ratio is presently 5.7 days.

FIGS Stock Performance

FIGS stock traded down $0.20 during trading on Friday, reaching $5.93. 1,775,834 shares of the company were exchanged, compared to its average volume of 2,126,489. The company has a market cap of $1.01 billion, a P/E ratio of 98.75, a PEG ratio of 35.88 and a beta of 1.24. The stock’s 50 day moving average price is $5.54 and its 200 day moving average price is $5.84. FIGS has a 52-week low of $4.30 and a 52-week high of $7.05.

Insider Activity

In other news, insider Heather L. Hasson sold 26,855 shares of FIGS stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.96, for a total value of $160,055.80. Following the sale, the insider now owns 354,221 shares of the company’s stock, valued at $2,111,157.16. The trade was a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On FIGS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bamco Inc. NY raised 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 acquiring an additional 3,342,755 shares during the last quarter. Geode Capital Management LLC raised its position in FIGS by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,977,364 shares of the company’s stock worth $20,369,000 after acquiring an additional 109,979 shares during the last quarter. State Street Corp raised its position in FIGS by 1.4% during the third quarter. State Street Corp now owns 2,743,494 shares of the company’s stock worth $18,765,000 after acquiring an additional 38,787 shares during the last quarter. Applied Fundamental Research LLC raised its position in FIGS by 6.1% during the third quarter. Applied Fundamental Research LLC now owns 2,648,281 shares of the company’s stock worth $18,114,000 after acquiring an additional 152,900 shares during the last quarter. Finally, Squarepoint Ops LLC raised 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 acquiring an additional 1,153,481 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FIGS shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 target price on shares of FIGS in a report on Wednesday, November 13th. Barclays decreased their price objective on shares of 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 objective on shares of FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.35.

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.