Short Interest in FIGS, Inc. (NYSE:FIGS) Declines By 13.4%

FIGS, Inc. (NYSE:FIGS) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 15,720,000 shares, a decline of 13.4% from the December 15th total of 18,150,000 shares. Based on an average trading volume of 2,780,000 shares, the days-to-cover ratio is currently 5.7 days. Approximately 12.3% of the shares of the company are short sold.

FIGS Stock Performance

NYSE:FIGS traded down $0.20 during trading hours on Friday, hitting $5.93. 1,775,834 shares of the company’s stock traded hands, compared to its average volume of 2,126,489. The firm has a market cap of $1.01 billion, a P/E ratio of 98.75, a P/E/G ratio of 35.88 and a beta of 1.24. FIGS has a twelve month low of $4.30 and a twelve month high of $7.05. The stock’s fifty day moving average price is $5.54 and its two-hundred day moving average price is $5.84.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. The Goldman Sachs Group reduced their price target on FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a research report on Tuesday, December 10th. Barclays cut their price objective on FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. 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 investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, FIGS has an average rating of “Hold” and a consensus price target of $5.35.

Insiders Place Their Bets

In other FIGS news, insider Heather L. Hasson sold 26,855 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.96, for a total transaction of $160,055.80. Following the completion of the transaction, the insider now owns 354,221 shares in the company, valued at approximately $2,111,157.16. The trade was a 7.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FIGS. Sugar Maple Asset Management LLC acquired a new position in FIGS during the fourth quarter valued at $43,000. Creative Planning raised its position in FIGS by 17.7% during the third quarter. Creative Planning now owns 12,697 shares of the company’s stock valued at $87,000 after buying an additional 1,911 shares during the period. GSA Capital Partners LLP acquired a new position in FIGS during the third quarter valued at $104,000. Seven Eight Capital LP acquired a new position in FIGS during the second quarter valued at $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 worth $156,000 after purchasing an additional 6,562 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.