This Healthcare Stock Just Hit A New 2-Year High

Figs (FIGS) is a direct-to-consumer healthcare apparel brand that displays a strong technical drive.
Shares are trading at a new two-year high.
FIGS has a 100% “Buy” technical rating from Barchart and the stock is up 30% over the past year.
While FIGS is experiencing exceptional price appreciation, it remains speculative and volatile.

Valued at $1.33 billion, Figs (FIGS) is a founder-led, direct-to-consumer lifestyle and apparel brand.

The company designs and sells healthcare apparel and other non-medical offerings, including lab coats, medical gowns, outerwear, sportswear, loungewear, compression socks and face masks. It also offers sports bras, sports leggings, tops, vests and jackets. The company markets and sells its products through its website and mobile application.

I found today’s Chart of the Day using Barchart’s powerful selection features to select stocks with the highest technical Buy signals; current momentum superior in both strength and direction; and a “buy” signal from Trend Seeker. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. FIGS checks those boxes. Since Trend Seeker signaled a new “buy” on October 15, the stock has gained 5.28%.

Editor’s note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. Therefore, the indicator numbers shown below may not match what you see live on the Barchart.com website when you read this report. These technical indicators form Barchart’s opinion on a particular stock.

Figs hit a two-year high of $8.24 in morning trading on October 22.

FIGS has a weighted alpha of +60.83.
Figs has a 100% “Buy” opinion on Barchart.
The stock gained 30.34% over the past year.
Figs has its Trend Seeker “Buy” signal intact.
The stock recently traded at $8.11 with a 50-day moving average of $7.09.
FIGS has reached 9 new highs and gained 17.25% in the last month.
The Relative Strength Index (RSI) is at 71.24.
There is a technical support level around $8.06.

Market capitalization of $1.33 billion.
Price-earnings ratio of 201.75x.
Revenue is projected to grow 2.61% this year and another 3.76% next year.
Earnings are estimated to increase by 234.10% this year and an additional 27.34% next year.

I don’t buy stocks because everyone else is buying, but I do realize that if big companies and investors dump their stocks, it’s hard to make money swimming against the tide.

It seems that Wall Street analysts are divided on FIGS, as are individual investors.

Wall Street analysts tracked by Barchart have issued 2 “Strong Buy” opinions, 8 “Hold” opinions, 1 “Moderate Sell” opinion and a single “Strong Sell” opinion on the stock with price targets between $5 and $9.
Value Line rates the stock “highest.”
CFRA’s MarketScope Advisor rates it a “Hold.”
Morningstar believes the stock is 7% undervalued.
63 investors following Motley Fool stock believe the stock will outperform the market, while 50 think it won’t.
4,750 investors monitor the stock on Searching Alpha, which rates the stock a “Hold.”

Although Wall Street analysts are divided on projections, they do predict growth on both the bottom line and the top line.

Today’s chart of the day was written by Jim Van Meerten. Read previous editions of the daily newsletter here.

Additional Disclosure: The bar chart of the day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be purchase recommendations, as these stocks are extremely volatile and speculative. If you decide to add one of these stocks to your investment portfolio, we strongly recommend that you follow a default diversification and trailing stop loss discipline that is consistent with your personal investment risk tolerance.

On the date of publication, Jim Van Meerten had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com

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