FIGS (NYSE:FIGS) Sets New 52-Week High - Should You Buy?

Key Points

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FIGS, Inc. (NYSE:FIGS - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $7.07 and last traded at $7.01, with a volume of 2540887 shares traded. The stock had previously closed at $6.93.

Wall Street Analysts Forecast Growth

FIGS has been the topic of a number of recent research reports. Telsey Advisory Group reissued a "market perform" rating and set a $7.00 price target (up previously from $5.00) on shares of FIGS in a research report on Monday, August 4th. The Goldman Sachs Group increased their price target on FIGS from $3.75 to $4.50 and gave the stock a "sell" rating in a research report on Tuesday, July 22nd. Cowen reaffirmed a "hold" rating on shares of FIGS in a research report on Friday, August 8th. Wall Street Zen raised FIGS from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Morgan Stanley raised their price objective on FIGS from $4.25 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, FIGS has a consensus rating of "Hold" and a consensus price target of $5.38.

FIGS Price Performance

The business has a 50-day moving average of $6.16 and a two-hundred day moving average of $5.17. The company has a market cap of $1.16 billion, a P/E ratio of 177.92, a P/E/G ratio of 4.57 and a beta of 1.34.

FIGS (NYSE:FIGS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The company had revenue of $152.64 million during the quarter, compared to analysts' expectations of $144.17 million. FIGS had a return on equity of 1.84% and a net margin of 1.26%.The firm's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.01 earnings per share. Equities analysts anticipate that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

Insider Activity at FIGS

In related news, CEO Catherine Eva Spear sold 65,866 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total value of $453,158.08. Following the completion of the transaction, the chief executive officer directly owned 1,969,246 shares of the company's stock, valued at $13,548,412.48. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sarah Oughtred sold 99,834 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $6.19, for a total transaction of $617,972.46. Following the completion of the transaction, the chief financial officer directly owned 878,058 shares of the company's stock, valued at $5,435,179.02. The trade was a 10.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 167,661 shares of company stock valued at $1,079,857 over the last ninety days. 29.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FIGS

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its position in shares of FIGS by 12,795.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company's stock valued at $29,000 after purchasing an additional 5,118 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of FIGS by 585.8% in the first quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock worth $30,000 after purchasing an additional 5,583 shares during the last quarter. Capstone Financial Advisors Inc. purchased a new position in shares of FIGS in the second quarter worth about $56,000. Hudson Bay Capital Management LP purchased a new position in shares of FIGS in the second quarter worth about $61,000. Finally, Walleye Capital LLC purchased a new position in shares of FIGS in the second quarter worth about $65,000. 92.21% of the stock is owned by hedge funds and other 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.