Figure Technology Solutions (NASDAQ:FIGR) Sets New 12-Month Low – Here’s What Happened

Figure Technology Solutions, Inc. (NASDAQ:FIGR) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $24.11 and last traded at $26.88, with a volume of 6247628 shares trading hands. The stock had previously closed at $24.91.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings upgraded shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Figure Technology Solutions in a report on Wednesday, July 8th. Piper Sandler cut their price objective on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Wall Street Zen cut shares of Figure Technology Solutions from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Finally, Mizuho raised their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.25.

Figure Technology Solutions Stock Up 4.0%

The firm’s 50-day simple moving average is $29.63 and its 200 day simple moving average is $35.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $5.25 billion and a P/E ratio of 49.55.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $166.84 million during the quarter. As a group, research analysts expect that Figure Technology Solutions, Inc. will post 0.92 EPS for the current year.

Insider Activity at Figure Technology Solutions

In other news, Director June Ou sold 35,190 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total value of $1,344,258.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Scott Cagney sold 35,190 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $38.20, for a total transaction of $1,344,258.00. Following the transaction, the director owned 35,190 shares in the company, valued at approximately $1,344,258. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 155,463 shares of company stock worth $5,926,353. Insiders own 26.60% of the company’s stock.

Hedge Funds Weigh In On Figure Technology Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pictet Asset Management Holding SA boosted its position in shares of Figure Technology Solutions by 69.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 67,893 shares of the company’s stock valued at $2,773,000 after acquiring an additional 27,893 shares during the period. UBS Group AG raised its stake in Figure Technology Solutions by 322.9% in the 4th quarter. UBS Group AG now owns 885,977 shares of the company’s stock worth $36,183,000 after purchasing an additional 676,470 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Figure Technology Solutions in the 4th quarter valued at about $5,041,000. Vanguard Group Inc. grew its position in shares of Figure Technology Solutions by 17.9% during the 4th quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock worth $121,493,000 after purchasing an additional 452,136 shares in the last quarter. Finally, WIM INVESTMENT MANAGEMENT Ltd grew its position in shares of Figure Technology Solutions by 53.6% during the 4th quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 745,286 shares of the company’s stock worth $30,437,000 after purchasing an additional 260,000 shares in the last quarter.

About Figure Technology Solutions

Figure is building the future of capital markets using blockchain-based technology. Figure’s proprietary technology powers next-generation lending, trading and investing activities in areas such as consumer credit and digital assets. Our application of the blockchain ledger allows us to better serve our end-customers, improve speed and efficiency, and enhance standardization and liquidity. Using our technology, we continue to develop dynamic, vertically-integrated marketplaces across the approximately $2 trillion consumer credit market and the rapidly growing approximately $4 trillion cryptocurrency and digital asset market.