Figure Technology Solutions (NASDAQ:FIGR) Sees Strong Trading Volume - Here's What Happened

Key Points

• Shares jumped ~15% to about $36.07 on Tuesday as trading volume surged to 15,878,762 shares, a 189% increase from the prior session.
• Analyst sentiment is mixed — MarketBeat lists a "Moderate Buy" consensus with an average target of $55.63, while individual reports range from sell downgrades to outperform/price-target raises (Sanford Bernstein $72).
• The company posted an EPS miss ( $0.06 vs. $0.13 expected) despite revenue rising 90.7% YoY to $157.6M, and its board approved a $200M share buyback (up to ~3.3% of shares outstanding).

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) shares saw an uptick in trading volume on Tuesday . 15,878,762 shares changed hands during trading, an increase of 189% from the previous session's volume of 5,498,838 shares.The stock last traded at $36.0660 and had previously closed at $32.64.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FIGR shares. Weiss Ratings downgraded shares of Figure Technology Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, February 11th. Zacks Research cut Figure Technology Solutions from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Sanford C. Bernstein upped their target price on Figure Technology Solutions from $54.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, January 13th. Keefe, Bruyette & Woods raised Figure Technology Solutions from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, February 19th. Finally, The Goldman Sachs Group decreased their price objective on Figure Technology Solutions from $49.00 to $44.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $55.63.

Figure Technology Solutions Stock Up 15.0%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26. The firm's fifty day moving average is $46.33. The company has a market capitalization of $6.61 billion and a price-to-earnings ratio of 94.50.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07). The company had revenue of $157.63 million for the quarter, compared to analysts' expectations of $158.00 million. The business's revenue for the quarter was up 90.7% compared to the same quarter last year.

Figure Technology Solutions announced that its board has approved a stock buyback program on Thursday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Insider Transactions at Figure Technology Solutions

In other Figure Technology Solutions news, Director June Ou sold 200,058 shares of Figure Technology Solutions stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $39.40, for a total value of $7,882,285.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael Scott Cagney sold 200,058 shares of the business's stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $39.40, for a total value of $7,882,285.20. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 426,173 shares of company stock worth $16,598,394 over the last ninety days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Federated Hermes Inc. acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at about $8,183,000. Lisanti Capital Growth LLC acquired a new position in Figure Technology Solutions during the third quarter worth about $3,780,000. JPMorgan Chase & Co. purchased a new position in Figure Technology Solutions in the third quarter valued at about $15,529,000. BIT Capital GmbH acquired a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at approximately $7,718,000. Finally, Fidelity National Financial Inc. acquired a new stake in shares of Figure Technology Solutions in the 3rd quarter worth approximately $9,092,000.

About Figure Technology Solutions

Figure is building the future of capital markets using blockchain-based technology. Figure's proprietary technology powers next-generation lending, trading and investing activities in areas such as consumer credit and digital assets. Our application of the blockchain ledger allows us to better serve our end-customers, improve speed and efficiency, and enhance standardization and liquidity. Using our technology, we continue to develop dynamic, vertically-integrated marketplaces across the approximately $2 trillion consumer credit market and the rapidly growing approximately $4 trillion cryptocurrency and digital asset market.

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