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

FIGS, Inc. (NYSE:FIGS) saw a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 11,971,322 shares, a growth of 17.5% from the February 12th total of 10,190,570 shares. Approximately 10.3% of the shares of the stock are sold short. Based on an average daily volume of 6,592,784 shares, the short-interest ratio is presently 1.8 days. Based on an average daily volume of 6,592,784 shares, the short-interest ratio is presently 1.8 days. Approximately 10.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

FIGS has been the subject of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating and set a $15.00 price objective on shares of FIGS in a research note on Friday, February 27th. Wolfe Research raised shares of FIGS to a “buy” rating in a research report on Wednesday, December 10th. Telsey Advisory Group boosted their target price on shares of FIGS to $17.00 and gave the company a “market perform” rating in a report on Thursday, March 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FIGS in a research report on Monday, December 29th. Finally, The Goldman Sachs Group upgraded shares of FIGS from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.58.

FIGS Stock Down 3.4%

Shares of FIGS traded down $0.51 during mid-day trading on Tuesday, hitting $14.39. 3,254,355 shares of the company’s stock were exchanged, compared to its average volume of 5,201,161. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 75.76 and a beta of 1.22. The firm has a fifty day moving average of $12.42 and a two-hundred day moving average of $10.14. FIGS has a twelve month low of $3.57 and a twelve month high of $17.48.

FIGS (NYSE:FIGS) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. The business had revenue of $201.90 million during the quarter, compared to analyst estimates of $165.33 million. FIGS had a net margin of 5.43% and a return on equity of 8.41%. FIGS’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 EPS. On average, equities analysts predict that FIGS will post 0.01 earnings per share for the current year.

Insider Activity

In other FIGS news, insider Heather L. Hasson sold 556,327 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $16.85, for a total transaction of $9,374,109.95. Following the completion of the transaction, the insider directly owned 1,251,967 shares in the company, valued at approximately $21,095,643.95. This trade represents a 30.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sarah Oughtred sold 22,690 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $10.56, for a total transaction of $239,606.40. Following the transaction, the chief financial officer directly owned 821,500 shares of the company’s stock, valued at approximately $8,675,040. This trade represents a 2.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 662,140 shares of company stock worth $10,542,161 over the last 90 days. 29.44% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP boosted its position in FIGS by 66.2% during the fourth quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock worth $48,824,000 after purchasing an additional 1,712,610 shares during the period. Bamco Inc. NY raised its position in shares of FIGS by 2.2% in the second quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after purchasing an additional 1,302,823 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of FIGS by 2,139.7% in the second quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock worth $7,374,000 after buying an additional 1,249,091 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of FIGS by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after buying an additional 1,144,962 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of FIGS by 940.7% during the 2nd quarter. Squarepoint Ops LLC now owns 924,092 shares of the company’s stock worth $5,212,000 after buying an additional 835,300 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.