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

Figure Technology Solutions, Inc. (NASDAQ:FIGR) shares reached a new 52-week low during mid-day trading on Tuesday . The company 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.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings raised Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Figure Technology Solutions in a report on Wednesday, July 8th. 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. Wall Street Zen lowered shares of Figure Technology Solutions from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.25.

Figure Technology Solutions Stock Up 7.9%

The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The business has a 50-day simple moving average of $29.89 and a two-hundred day simple moving average of $36.07. The stock has a market capitalization of $4.91 billion and a P/E ratio of 46.34.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $166.84 million for the quarter. Equities research analysts forecast that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Activity

In other news, Director June Ou sold 35,190 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total transaction of $1,344,258.00. The transaction was disclosed in a document filed 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, insider David Todd Stevens sold 47,064 shares of Figure Technology Solutions stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the completion of the transaction, the insider owned 406,051 shares of the company’s stock, valued at $17,196,259.85. This trade represents a 10.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 155,463 shares of company stock worth $5,926,353 over the last ninety days. Corporate insiders own 26.60% of the company’s stock.

Institutional Investors Weigh In On Figure Technology Solutions

A number of large investors have recently bought and sold shares of the business. Duquesne Family Office LLC acquired a new stake in Figure Technology Solutions during the 3rd quarter valued at $76,989,000. Fred Alger Management LLC acquired a new position in Figure Technology Solutions in the fourth quarter worth $67,386,000. Pantera Capital Partners LP bought a new stake in shares of Figure Technology Solutions during the third quarter worth $56,114,000. Balyasny Asset Management L.P. acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at $36,087,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at $34,626,000.

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.