FIGS (NYSE:FIGS) Sets New 1-Year High - What's Next?

Key Points

• FIGS, Inc. shares reached a new 52-week high of **$7.31**, reflecting a strong trading volume of over **1.34 million shares**.
• Analysts have varying outlooks on FIGS, with a consensus target price of **$5.38** and ratings ranging from "buy" to "sell" among research analysts.
• Insider trading activities include notable sales from the CFO and CEO, with both reducing their shareholdings by over **10%** and **3%**, respectively.

Shares of FIGS, Inc. (NYSE:FIGS - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $7.31 and last traded at $7.29, with a volume of 1346738 shares. The stock had previously closed at $6.82.

Wall Street Analysts Forecast Growth

FIGS has been the topic of several analyst reports. Telsey Advisory Group restated a "market perform" rating and set a $7.00 price objective (up from $5.00) on shares of FIGS in a report on Monday, August 4th. Morgan Stanley lifted their price objective on FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Cowen restated a "hold" rating on shares of FIGS in a report on Friday, August 8th. The Goldman Sachs Group lifted their price objective on FIGS from $3.75 to $4.50 and gave the stock a "sell" rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen downgraded FIGS from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. 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. According to MarketBeat, FIGS presently has an average rating of "Hold" and a consensus target price of $5.38.

FIGS Stock Performance

The firm has a market capitalization of $1.19 billion, a P/E ratio of 182.42, a P/E/G ratio of 4.26 and a beta of 1.34. The stock has a fifty day moving average price of $6.50 and a two-hundred day moving average price of $5.31.

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

Insider Buying and Selling

In related news, CFO Sarah Oughtred sold 99,834 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was 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 owned 878,058 shares in the company, valued at $5,435,179.02. The trade was a 10.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Catherine Eva Spear sold 65,866 shares of the business's 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 transaction, the chief executive officer owned 1,969,246 shares of the company's stock, valued at $13,548,412.48. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders own 29.44% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position in FIGS by 12,795.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company's stock worth $29,000 after acquiring an additional 5,118 shares during the period. GAMMA Investing LLC boosted its position in FIGS by 585.8% during the 1st quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock worth $30,000 after acquiring an additional 5,583 shares during the period. Capstone Financial Advisors Inc. acquired a new position in FIGS during the 2nd quarter worth $56,000. Hudson Bay Capital Management LP acquired a new position in FIGS during the 2nd quarter worth $61,000. Finally, Walleye Capital LLC acquired a new position in FIGS during the 2nd quarter worth $65,000. Institutional investors and hedge funds own 92.21% of the company's stock.

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.

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