As of Friday close, Avinger Inc.’s (NASDAQ:AVGR) stock was down -$1.47, moving down -13.15 percent to $9.71. The average number of shares traded per day over the past five days has been 23,796,580 shares. 3 times new highs have been achieved over the past 5 days, with a $5.57 gain in that time frame. In the last twenty days, the average volume was 5,960,147, while in the previous 50 days, it was 2,388,254.
Since last month, AVGR stock rose 7.35%. Shares of the company fell to $4.14 on 09/15/23, the lowest level in the past month. A 52-week high of $24.30 was reached on 02/08/23 after having rallying from a 52-week low of $4.14. Since the beginning of this year, AVGR’s stock price has dropped by -40.34% or -$6.57, and marked a new high 9 times. However, the stock has declined by -60.04% since its 52-week high.
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AVGR stock investors should be aware that Avinger Inc. (AVGR) stock had its last reported insider trading activity 184 days ago on Mar 23. Subainati Nabeel Paul, the Vice President, Finance of the company, disposed of 223 shares for $0.81 on Mar 23. It resulted in a $181 divestment by the insider.
Financial Health
In the three months ended June 29, Avinger Inc.’s quick ratio stood at 0.40, while its current ratio was 0.60, showing that the company is not able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 33.20% percent. Based on annual data, AVGR earned $2.65 million in gross profit and brought in $8.27 million in revenue.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. AVGR’s revenue fell -4.41% to $1.89 million during the quarter, while net income inched up to $2.04 million. While analysts expected Avinger Inc. to report -$7.35 quarterly earnings, the actual figure was -$8.85 per share, beating the consensus estimate by -20.40%. During the quarter, the company generated -$3.64 million in EBITDA. The liabilities of Avinger Inc. were 23.53 million at the end of its most recent quarter ended June 29, and its total debt was $16.86 million. The value of shareholders’ equity is $0.72 million.
Technical Picture
This quick technical analysis looks at Avinger Inc.’s (AVGR) price momentum. With a historical volatility rate of 417.49%, the RSI 9-day stood at 56.83% on 22 September.
With respect to its five-day moving average, the current Avinger Inc. price is up by +134.82% percent or $5.57. At present, AVGR shares trade +11.61% above its 20-day simple moving average and +42.90% percent above its 100-day simple moving average. However, the stock is currently trading approximately -15.92% below its SMA50 and -46.94% below its SMA200.
Stochastic coefficient K was 75.27% and Stochastic coefficient D was 79.70%, while ATR was 2.01. Given the Stochastic reading of 56.51% for the 14-day period, the RSI (14) reading has been calculated as 55.31%. As of today, the MACD Oscillator reading stands at 3.81, while the 14-day reading stands at 4.23.
Analyst Ratings
B. Riley Securities launched its rating on Avinger Inc. (NASDAQ: AVGR) to a Buy in a note to investors on June 29, 2021. Avinger Inc. (AVGR) has been rated Buy by analysts. According to 0 brokerage firms, AVGR is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Avinger Inc. stock as buy, with 1 recommending it as overweight.
With a median target price of $24.00, the current consensus forecast for the stock is $24.00 – $24.00. Based on these forecasts, analysts predict Avinger Inc. (AVGR) will achieve an average price target of $24.00.
