FIGS (NYSE:FIGS) Sees Unusually-High Trading Volume – Here’s Why

Shares of FIGS, Inc. (NYSE:FIGS) saw unusually-high trading volume on Friday . Approximately 1,256,083 shares changed hands during trading, a decline of 28% from the previous session’s volume of 1,736,115 shares.The stock last traded at $5.87 and had previously closed at $6.08.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FIGS. Barclays lowered their price objective on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. The Goldman Sachs Group cut their price target on shares of FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a research report on Tuesday, December 10th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $7.00 price objective on shares of FIGS in a report on Wednesday, November 13th. Two 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, the company has an average rating of “Hold” and a consensus target price of $5.35.

FIGS Trading Down 1.0 %

The company has a market capitalization of $1.02 billion, a P/E ratio of 100.33, a PEG ratio of 290.40 and a beta of 1.33. The stock has a 50 day moving average price of $5.56 and a 200 day moving average price of $5.80.

Insider Activity at FIGS

In related news, insider Heather L. Hasson sold 26,855 shares of FIGS stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.96, for a total value of $160,055.80. Following the transaction, the insider now directly owns 354,221 shares of the company’s stock, valued at $2,111,157.16. The trade was a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FIGS. Creative Planning raised its stake in FIGS by 17.7% during the third quarter. Creative Planning now owns 12,697 shares of the company’s stock worth $87,000 after buying an additional 1,911 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of FIGS by 787.0% in the 3rd quarter. International Assets Investment Management LLC now owns 13,926 shares of the company’s stock valued at $950,000 after purchasing an additional 12,356 shares during the period. GSA Capital Partners LLP bought a new stake in shares of FIGS during the 3rd quarter valued at about $104,000. Aigen Investment Management LP grew its stake in FIGS by 40.3% during the third quarter. Aigen Investment Management LP now owns 22,840 shares of the company’s stock worth $156,000 after purchasing an additional 6,562 shares during the period. Finally, Paloma Partners Management Co bought a new stake in FIGS in the third quarter worth approximately $163,000. Institutional investors own 92.21% of the company’s stock.

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.