Figure Technology Solutions (NASDAQ:FIGR) Sets New 52-Week Low – Time to Sell?

Figure Technology Solutions, Inc. (NASDAQ:FIGR)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $24.11 and last traded at $26.88, with a volume of 6247628 shares changing hands. The stock had previously closed at $24.91.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FIGR. 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. Keefe, Bruyette & Woods dropped their price objective 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. 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. Mizuho lifted their target price on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Finally, Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. One 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 given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.25.

Figure Technology Solutions Stock Up 7.9%

The business has a fifty day moving average of $29.89 and a 200 day moving average of $36.07. The stock has a market cap of $4.91 billion and a price-to-earnings ratio of 46.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90.

Figure Technology Solutions (NASDAQ:FIGR) last issued 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 business had revenue of $166.84 million for the quarter. On average, equities analysts predict that Figure Technology Solutions, Inc. will post 0.92 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Michael Benjamin Tannenbaum sold 14,871 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $37.27, for a total transaction of $554,242.17. Following the completion of the sale, the chief executive officer directly owned 3,193,641 shares of the company’s stock, valued at approximately $119,027,000.07. This represents a 0.46% decrease in their position. 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, insider David Todd Stevens sold 47,064 shares of the company’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 155,463 shares of company stock valued at $5,926,353. 26.60% of the stock is owned by corporate insiders.

Institutional Trading of Figure Technology Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Duquesne Family Office LLC acquired a new stake in Figure Technology Solutions in the 3rd quarter worth $76,989,000. Fred Alger Management LLC acquired a new position in shares of Figure Technology Solutions during the fourth quarter valued at about $67,386,000. Pantera Capital Partners LP bought a new stake in shares of Figure Technology Solutions in the third quarter valued at about $56,114,000. Balyasny Asset Management L.P. acquired a new stake in Figure Technology Solutions during the third quarter worth about $36,087,000. Finally, Alliancebernstein L.P. acquired a new stake in Figure Technology Solutions during the third quarter worth about $34,626,000.

Figure Technology Solutions Company Profile

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.