FIGS, Inc. (NYSE:FIGS) Sees Significant Decrease in Short Interest

FIGS, Inc. (NYSE:FIGS) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 18,150,000 shares, a decrease of 10.1% from the November 30th total of 20,200,000 shares. Based on an average daily volume of 2,850,000 shares, the short-interest ratio is currently 6.4 days. Approximately 14.2% of the company’s stock are short sold.

Analyst Ratings Changes

FIGS has been the subject of a number of recent analyst reports. Barclays decreased their price target on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. The Goldman Sachs Group decreased their price objective on shares of FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a report on Tuesday, December 10th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $7.00 target price on shares of FIGS in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.35.

FIGS Stock Down 1.0 %

FIGS stock traded down $0.06 during trading on Wednesday, hitting $6.19. 1,721,408 shares of the company’s stock traded hands, compared to its average volume of 3,472,006. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 103.17, a price-to-earnings-growth ratio of 299.52 and a beta of 1.33. FIGS has a 52 week low of $4.30 and a 52 week high of $7.05. The stock has a fifty day moving average price of $5.59 and a two-hundred day moving average price of $5.75.

Institutional Investors Weigh In On FIGS

Institutional investors have recently modified their holdings of the business. Verus Capital Partners LLC bought a new position in FIGS during the 2nd quarter worth $79,000. Creative Planning boosted its stake in FIGS by 17.7% during the 3rd quarter. Creative Planning now owns 12,697 shares of the company’s stock valued at $87,000 after purchasing an additional 1,911 shares during the period. GSA Capital Partners LLP acquired a new position in shares of FIGS during the third quarter worth approximately $104,000. Seven Eight Capital LP bought a new position in FIGS in the 2nd quarter worth approximately $144,000. Finally, Aigen Investment Management LP increased its position in FIGS by 40.3% in the 3rd quarter. Aigen Investment Management LP now owns 22,840 shares of the company’s stock valued at $156,000 after acquiring an additional 6,562 shares during the period. 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.