Analysis Of The Weekly Performance Of Avinger Inc. (AVGR)

Avinger Inc. (NASDAQ:AVGR) trading with an addition of $0.13 to $0.82 on Thursday, an upside of 18.11 percent. An average of 1,281,529 shares of common stock have been traded in the last five days. There was a gain of $0.0430 in the past week. The last 20 days have seen an average of 887,937 shares traded, while the 50-day average volume stands at 850,749.

AVGR stock has decreased by -20.21% in the last month. The company shares reached their 1-month lowest point of $0.6700 on 10/06/21. With the stock rallying to its 52-week high on 02/18/21, shares of the company touched a low of $0.21 and a high of $2.67 in 52 weeks. In spite of this, the price is down -69.36% from the 52-week high.

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Valuation Metrics

Avinger Inc. (AVGR) has a trailing price-to-earnings (P/E) ratio of 26.30 for the broader industry and 32.25 for the sector. This means investors are optimistic about the stock’s future prospects. The stock’s beta is 1.75. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 6.47, the price-to-book (PB) ratio at 3.85.

The quick ratio of Avinger Inc. for the three months ended June 29 was 4.60, and the current ratio was 5.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.66 and a total debt to equity ratio of 0.66 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 35.30% against a 5-year average of 14.5%. Avinger Inc.’s EBITDA margin for the year ending June 29 is -177.42%. Its gross profit as reported stood at $2.62 million compared to revenue of $8.76 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Avinger Inc.’s return on assets was -55.00%, compared to -121.5% over the last five years. For the broader industry, ROE averaged 3.96 over the past year.

Earnings Surprise

In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $2.8 million in the quarter, while revenues of $2.56 million were grew 47.5%. The analyst consensus anticipated Avinger Inc.’s latest quarter earnings to come in at -$0.04 per share, but it turned out to be -$0.04, a 0.00% surprise. For the quarter, EBITDA amounted to -$4.22 million. Shareholders own equity worth $95.35 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Avinger Inc. (AVGR) price momentum. RSI 9-day as of the close on 06 October was 53.02%, suggesting the stock is Neutral, with historical volatility in this time frame at 83.65%.

As of today, AVGR’s price is $0.7172 +5.78% or $0.0430 from its 5-day moving average. AVGR is currently trading -8.51% lower than its 20-day SMA and -17.17% lower than its 100-day SMA. However, the stock’s current price level is -17.16% below the SMA50 and +170.45% above the SMA200.

The stochastic %K and %D were 25.67% and 11.41%, respectively, and the average true range (ATR) was 0.0527. With the 14-day stochastic at 63.24% and the average true range at 0.0493, the RSI (14) stands at 47.85%. The stock has reached -0.0215 on the 9-day MACD Oscillator while the 14-day reading was at -0.0471.

Analyst Ratings

B. Riley Securities launched coverage on Avinger Inc. (NASDAQ: AVGR) in its analyst report released on June 29, 2021. The firm assigned the stock a a Buy rating.The consensus rating for Avinger Inc. (AVGR) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell AVGR, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.

What is AVGR’s price target for the next 12 months?

Analysts predict a range of price targets between $2.50 and $2.50, with a median target of $2.50. Taking a look at these predictions, the average price target given by analysts for Avinger Inc. (AVGR) stock is $2.50.


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