Figure Technology Solutions (NASDAQ:FIGR) Reaches New 1-Year Low - What's Next?

Key Points

• Figure Technology Solutions shares hit a new 52-week low, trading as low as $21.51 and falling 6.4%. The stock is well below its 50-day and 200-day moving averages of $31.35 and $34.65, respectively.
• Despite the decline, analysts maintain a generally positive view, with an average rating of “Buy” and an average price target of $53.57. Recent quarterly earnings also exceeded expectations, with EPS of $0.35 versus the $0.24 consensus estimate.
• Insiders sold 59,650 shares worth approximately $1.9 million over the past 90 days under pre-arranged trading plans, while several institutional investors—including Brooklands Fund Management and Maplelane Capital—established or increased positions.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) reached a new 52-week low during trading on Friday. The stock traded as low as $21.51 and last traded at $22.81, with a volume of 370,636 shares changing hands. The stock had previously closed at $23.59.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FIGR shares. Wall Street Zen upgraded shares of Figure Technology Solutions from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings lowered shares of Figure Technology Solutions from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, September 11th. Freedom Capital raised Figure Technology Solutions to a "strong-buy" rating in a research note on Thursday, October 15th. Zacks Research raised shares of Figure Technology Solutions from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 17th. Finally, Piper Sandler dropped their price objective on Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. Four analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $53.57.

Figure Technology Solutions Trading Down 6.4%

The company has a 50-day moving average price of $31.35 and a 200 day moving average price of $34.65. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $4.10 billion and a P/E ratio of 23.81.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The company had revenue of $218.45 million during the quarter. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. On average, research analysts forecast that Figure Technology Solutions, Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Activity

In other news, insider David Stevens sold 47,650 shares of Figure Technology Solutions stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the sale, the insider owned 376,599 shares in the company, valued at approximately $11,817,676.62. The trade was a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the sale, the chief financial officer owned 483,651 shares of the company's stock, valued at $18,712,457.19. This trade represents a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 59,650 shares of company stock worth $1,924,897. Corporate insiders own 26.60% of the company's stock.

Institutional Investors Weigh In On Figure Technology Solutions

Several institutional investors have recently bought and sold shares of FIGR. Brooklands Fund Management Ltd acquired a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $24,600,000. Maplelane Capital LLC bought a new position in shares of Figure Technology Solutions in the 1st quarter valued at approximately $23,120,000. Hiddenite Capital Partners LP acquired a new position in Figure Technology Solutions during the third quarter valued at approximately $14,569,000. Bank of New York Mellon Corp acquired a new stake in shares of Figure Technology Solutions in the second quarter worth $10,875,000. Finally, Granahan Investment Management LLC lifted its position in Figure Technology Solutions by 40.6% during the 1st quarter. Granahan Investment Management LLC now owns 935,400 shares of the company's stock worth $31,757,000 after acquiring an additional 269,882 shares during the last quarter.

Figure Technology Solutions Company Profile

Figure Technology Solutions, Inc is a financial technology company that develops technology-enabled lending and financial services products. The company uses artificial intelligence, blockchain and data-driven underwriting tools to streamline the origination, servicing and management of loans and other financial transactions.

Figure's platform has supported products including home equity lines of credit, mortgage-related lending and personal loans. Its technology is designed to automate traditionally paper-intensive processes, improve transaction speed and provide digital tools for borrowers, lenders and other financial institutions.

Founded in 2018, Figure is headquartered in the United States and primarily serves the U.S.

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