FIGS (NYSE:FIGS) Shares Gap Down – Time to Sell?

FIGS, Inc. (NYSE:FIGS) gapped down prior to trading on Friday . The stock had previously closed at $6.67, but opened at $5.01. FIGS shares last traded at $4.59, with a volume of 1,509,749 shares changing hands.

Wall Street Analysts Forecast Growth

FIGS has been the subject of several research analyst reports. The Goldman Sachs Group raised their price target on FIGS from $4.25 to $4.75 and gave the stock a “sell” rating in a research report on Friday, August 9th. Telsey Advisory Group reiterated a “market perform” rating and set a $7.00 price target on shares of FIGS in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, FIGS currently has an average rating of “Hold” and a consensus target price of $5.60.

FIGS Price Performance

The stock’s 50 day moving average is $6.20 and its two-hundred day moving average is $5.72. The stock has a market capitalization of $816.71 million, a PE ratio of 45.50, a price-to-earnings-growth ratio of 82.80 and a beta of 1.44.

FIGS (NYSE:FIGS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $144.23 million during the quarter, compared to analysts’ expectations of $142.25 million. FIGS had a net margin of 3.39% and a return on equity of 4.94%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 EPS. On average, equities analysts predict that FIGS, Inc. will post 0.03 earnings per share for the current year.

Institutional Investors Weigh In On FIGS

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC raised its stake in FIGS by 26.6% during the 1st quarter. ProShare Advisors LLC now owns 766,465 shares of the company’s stock valued at $3,817,000 after acquiring an additional 161,249 shares during the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of FIGS during the second quarter worth $3,856,000. Vanguard Group Inc. grew its position in FIGS by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 12,597,318 shares of the company’s stock valued at $62,735,000 after buying an additional 206,673 shares during the last quarter. Resolute Capital Asset Partners LLC purchased a new position in FIGS during the 2nd quarter worth $799,000. Finally, American Century Companies Inc. acquired a new stake in shares of FIGS in the 2nd quarter worth $554,000. 92.21% of the stock is 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.