The stock of Avinger Inc. (NASDAQ:AVGR) increased by $4.38 on Tuesday to finish at $10.45, up 72.16 percent. The last five days have seen an average of 16,895,961 shares of common stock traded. 9 times new highs were reached in the current year, with a fall of -$5.83. The average number of shares traded over the last 20 days was 4,229,410, while the average volume over the last 50 days totaled 1,696,020.
AVGR stock appreciated 28.73% since last month. On 09/15/23, the company’s shares reached a one-month low of $4.14. The stock touched a high of $24.30 on 02/08/23, after rallying from a low of $4.14 in 52 weeks. The price of AVGR stock has declined by -35.79% or -$5.83 this year, reaching a new high 9 times. Still, the stock price is down -57.00% from the 52-week high.
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Insider Transactions
AVGR stock investors should be aware that Avinger Inc. (AVGR) stock had its last reported insider trading activity 181 days ago on Mar 23. On Mar 23, Vice President, Finance Subainati Nabeel Paul sold 223 shares at $0.81 each. This transaction resulted in the insider making $181.
Financial Health
For the three months ended June 29, Avinger Inc.’s quick ratio was 0.40, while its current ratio was 0.60, indicating its inability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 33.20% percent. Based on annual data, it had gross profit of $2.65 million and revenue of $8.27 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. AVGR’s return on assets (ROA) during the last 12 months has been -97.30%. There was a -87.20% return on investment (ROI) in the past year.
Earnings Surprise
According to Avinger Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.04 million, while revenues fell by -4.41% to $1.89 million. It was predicted that Avinger Inc.’s quarterly earnings would be -$8.85, but it ended up being -$7.35, beating the consensus by -20.40%. EBITDA was -$3.64 million for the quarter. At the end of Avinger Inc.’s most recent quarter ended June 29, its liabilities totaled 23.53 million, while its total debt was $16.86 million. Equity owned by shareholders amounts to $0.72 million.
Technical Picture
Here’s a quick look at Avinger Inc.’s (AVGR) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 73.06%, suggesting the stock is Overbought, with a 365.54% historical volatility rate.
The stochastic %K and %D were 45.70% and 22.02% respectively, while the average true range (ATR) was 1.57. Based on the 14-day stochastic reading of 90.02%, the RSI (14) reading is 65.02%. On the 9-day MACD Oscillator, the stock is at 0.83, and the 14-day reading is at 0.51.
Analyst Ratings
In its analyst report released on June 29, 2021, B. Riley Securities began covering Avinger Inc. (NASDAQ: AVGR). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Avinger Inc. (AVGR) an Buy rating. AVGR is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is AVGR’s price target for the next 12 months?
The current consensus forecast for the stock is between $24.00 and $24.00, with a median target price of $24.00. In analyzing these forecasts, the average price target given by analysts for Avinger Inc. (AVGR) is $24.00.
