FIGS (NYSE:FIGS) Stock Price Up 5% - What's Next?

Key Points

• FIGS, Inc. experienced a **5% increase** in its share price, trading as high as **$8.00**, despite a significant decline in trading volume compared to its average.
• Analyst ratings for FIGS are mixed, with a consensus **"Hold"** rating and a price target of **$6.10**, indicating divergent views on the stock's future performance.
• The company's quarterly earnings report showed a profit of **$0.04 per share**, surpassing expectations, and revenue growth of **5.8%** compared to the same quarter last year.

FIGS, Inc. (NYSE:FIGS - Get Free Report)'s share price rose 5% during trading on Friday . The stock traded as high as $8.00 and last traded at $8.08. Approximately 953,357 shares traded hands during trading, a decline of 53% from the average daily volume of 2,016,253 shares. The stock had previously closed at $7.69.

Wall Street Analyst Weigh In

FIGS has been the topic of several recent analyst reports. Weiss Ratings reissued a "sell (d+)" rating on shares of FIGS in a research report on Wednesday, October 8th. The Goldman Sachs Group lifted their target price on shares of FIGS from $3.75 to $4.50 and gave the stock a "sell" rating in a research report on Tuesday, July 22nd. BTIG Research initiated coverage on shares of FIGS in a research report on Tuesday. They set a "buy" rating and a $9.00 target price on the stock. Wall Street Zen raised shares of FIGS from a "buy" rating to a "strong-buy" rating in a research report on Sunday, October 12th. Finally, Morgan Stanley lifted their target price on shares of FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, FIGS has a consensus rating of "Hold" and a consensus price target of $6.10.

FIGS Stock Performance

The firm has a market capitalization of $1.30 billion, a PE ratio of 199.67, a price-to-earnings-growth ratio of 4.92 and a beta of 1.33. The business's 50 day moving average is $6.97 and its two-hundred day moving average is $5.71.

FIGS (NYSE:FIGS - Get Free Report) last released its quarterly earnings data 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 net margin of 1.26% and a return on equity of 1.84%. The business had revenue of $152.64 million during the quarter, compared to analyst estimates of $144.17 million. During the same period in the previous year, the business earned $0.01 EPS. FIGS's revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts predict that FIGS, Inc. will post 0.01 EPS for the current year.

Insider Buying and Selling

In related news, CEO Catherine Eva Spear sold 65,866 shares of FIGS 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 in the company, valued at approximately $13,548,412.48. The trade was a 3.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sarah Oughtred sold 99,834 shares of FIGS 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 owned 878,058 shares of the company's stock, valued at $5,435,179.02. This represents a 10.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 237,881 shares of company stock valued at $1,572,520 over the last quarter. 29.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FIGS. Farther Finance Advisors LLC grew its position in shares of FIGS by 12,795.0% during 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 in the last quarter. GAMMA Investing LLC grew its position in shares of FIGS by 585.8% during the 1st quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock valued at $30,000 after purchasing an additional 5,583 shares in the last quarter. Capstone Financial Advisors Inc. purchased a new position in FIGS in the second quarter worth $56,000. Hudson Bay Capital Management LP purchased a new position in FIGS in the second quarter worth $61,000. Finally, Walleye Capital LLC purchased a new position in FIGS in the second quarter worth $65,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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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