FIGS, Inc. (NYSE:FIGS) Short Interest Update

FIGS, Inc. (NYSE:FIGS) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 20,480,000 shares, an increase of 6.4% from the August 15th total of 19,250,000 shares. Based on an average trading volume of 3,820,000 shares, the short-interest ratio is presently 5.4 days. Currently, 16.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FIGS. Telsey Advisory Group reiterated a “market perform” rating and issued a $6.00 target price on shares of FIGS in a research note on Monday, August 5th. The Goldman Sachs Group increased their target price on shares of FIGS from $4.25 to $4.75 and gave the stock a “sell” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, FIGS has an average rating of “Hold” and a consensus price target of $5.40.

FIGS Trading Up 1.6 %

NYSE:FIGS traded up $0.09 during trading hours on Thursday, hitting $5.66. 347,482 shares of the stock were exchanged, compared to its average volume of 3,715,129. The company has a market cap of $963.49 million, a P/E ratio of 50.68, a P/E/G ratio of 71.07 and a beta of 1.42. The firm’s fifty day moving average price is $5.81 and its 200 day moving average price is $5.38. FIGS has a 52-week low of $4.30 and a 52-week high of $7.98.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.01 EPS for the quarter. FIGS had a return on equity of 4.94% and a net margin of 3.39%. The firm had revenue of $144.23 million during the quarter, compared to the consensus estimate of $142.25 million. During the same period in the prior year, the company earned $0.02 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. Equities analysts expect that FIGS will post 0.03 EPS for the current fiscal year.

Insider Activity

In other FIGS news, insider Heather L. Hasson sold 40,149 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $5.70, for a total transaction of $228,849.30. Following the sale, the insider now directly owns 425,710 shares of the company’s stock, valued at approximately $2,426,547. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 44,591 shares of company stock valued at $255,460 in the last ninety days. Insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On FIGS

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bamco Inc. NY boosted its stake in FIGS by 2.0% during the first quarter. Bamco Inc. NY now owns 25,731,980 shares of the company’s stock worth $128,145,000 after buying an additional 516,496 shares during the last quarter. Vanguard Group Inc. increased its position in FIGS by 1.7% during the first quarter. Vanguard Group Inc. now owns 12,597,318 shares of the company’s stock worth $62,735,000 after purchasing an additional 206,673 shares during the last quarter. Wellington Management Group LLP increased its position in FIGS by 321.5% during the fourth quarter. Wellington Management Group LLP now owns 3,075,794 shares of the company’s stock worth $21,377,000 after purchasing an additional 2,345,994 shares during the last quarter. Applied Fundamental Research LLC raised its stake in FIGS by 25.8% during the first quarter. Applied Fundamental Research LLC now owns 2,495,381 shares of the company’s stock worth $13,786,000 after purchasing an additional 511,794 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in FIGS by 16.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,307,304 shares of the company’s stock valued at $12,298,000 after purchasing an additional 322,358 shares during the last quarter. 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.