Avinger Inc. (NASDAQ: AVGR) is experiencing a surge in its stock price on September 20, 2023, building on the positive momentum of the past two days. Since Monday, when the company announced the launch of its Tigereye ST image-guided chronic total occlusion (CTO) crossing system, the stock has seen an impressive increase of nearly 175%.
The trading volume has also seen a significant rise, with over 16 million shares being traded during the session. This is a notable contrast to the stock’s 100-day average of 1.306 million shares.
In addition, Avinger has filed its intent to expand the available amount for sale under its previously disclosed at the market offering. The company plans to increase the aggregate offering price by up to $2,133,181. This move has attracted the attention of both retail investors and short-sellers, with 11.38% of available shares being sold short.
As of the time of publication, Avinger shares have climbed by 7.5% and are currently valued at $11.24.
Updated on: 07/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Neutral
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Sell
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AVGR Stock Performance Analysis: Volatility, Earnings Growth, and Revenue Decline
On September 20, 2023, Avinger, Inc. (AVGR) experienced a day of mixed performance in the stock market. Let’s delve into the details and analyze the key factors that influenced AVGR’s stock performance on that day.
To begin with, AVGR’s previous close on September 19, 2023, was $10.35. The stock opened at $10.50 on September 20, indicating a slight increase from the previous day’s close. Throughout the trading day, AVGR’s stock price fluctuated within a range of $9.95 to $13.00. This wide range suggests high volatility in the stock’s price movements.
The trading volume for AVGR on September 20 was 356,159 shares, which is lower than the average volume of 954,453 shares over the past three months. This lower volume indicates a relatively subdued level of investor interest and trading activity in AVGR on that day.
AVGR’s market capitalization stood at $3.0 million, highlighting the company’s small size in terms of market value. However, it is worth noting that market capitalization alone does not provide a comprehensive picture of a company’s performance or potential.
Examining AVGR’s earnings growth, we find that the company experienced a positive trend. Its earnings growth in the last year was +4.63%, while the earnings growth for the current year is +98.15%. Looking ahead, AVGR is expected to maintain a steady earnings growth rate of +15.00% over the next five years. This positive outlook for earnings growth could contribute to the stock’s attractiveness to investors.
On the other hand, AVGR’s revenue growth in the last year was -18.33%, which indicates a decline in the company’s top-line performance. This decline in revenue growth could be a cause for concern for investors and may have contributed to the stock’s volatility.
AVGR’s price-to-earnings (P/E) ratio is listed as NM (not meaningful), suggesting that the company is currently not generating positive earnings per share. This lack of profitability is further reflected in the net profit margin, which stands at -213.02%. These figures indicate that AVGR has been operating at a loss, which could be a significant factor affecting investor sentiment.
The price/sales ratio for AVGR is 0.82, which suggests that the stock is trading at a relatively low valuation compared to its sales. Similarly, the price/book ratio of 0.52 indicates that AVGR’s stock price is undervalued compared to its book value. These valuation metrics might attract value-oriented investors who seek stocks that are priced below their intrinsic value.
In terms of industry and sector classification, AVGR operates in the Health Technology sector and falls under the Medical Specialties industry. This information provides insights into the company’s focus and its position within the broader market.
AVGR’s corporate headquarters are located in Redwood City, California. While the absence of displayed executives may raise questions about the company’s leadership, it is important to note that this information may not be available or updated in the data source used for this analysis.
Looking ahead, AVGR’s next reporting date is scheduled for November 8, 2023. Analysts forecast an earnings per share (EPS) of -$0.22 for the current quarter. Additionally, AVGR reported annual revenue of $8.3 million and an annual profit of -$17.6 million in the previous year. These figures highlight the company’s financial performance and its challenges in generating consistent profitability.
In conclusion, AVGR’s stock performance on September 20, 2023, was marked by volatility, with the stock experiencing a wide trading range. While the company has shown positive earnings growth, the decline in revenue growth and lack of profitability may have contributed to the stock’s mixed performance. Investors should carefully consider these factors, along with other relevant information, before making any investment decisions regarding AVGR.
Avinger Inc: Promising Stock Performance and Growth Potential in Peripheral Artery Disease Treatment
Avinger Inc, a medical device company specializing in the treatment of peripheral artery disease, has been attracting attention from investors due to its promising stock performance. On September 20, 2023, AVGR stock showed positive signs, with a median target price forecast of $24.00, indicating a potential increase of 93.39% from its last price of $12.41.
According to data from CNN Money, one analyst offering a 12-month price forecast for Avinger Inc has a median target of $24.00, with both the high and low estimates also at $24.00. This consensus among analysts suggests a strong bullish sentiment towards the stock.
The current consensus among one polled investment analyst is to buy stock in Avinger Inc. This rating has remained steady since April, indicating a sustained positive outlook for the company. Investors seem to be confident in the company’s potential for growth and profitability.
In terms of financial performance, Avinger Inc reported an earnings per share of -$0.22 for the current quarter. While this figure represents a loss, it is important to note that earnings per share can fluctuate quarter to quarter, and investors should consider the long-term prospects of the company.
The company’s sales for the current quarter were reported at $2.5 million. While this figure may seem relatively small, it is crucial to consider the growth potential of Avinger Inc’s innovative medical devices and the market demand for peripheral artery disease treatments.
Investors should keep an eye on Avinger Inc as it approaches its reporting date on November 8th. This will provide further insights into the company’s financial performance and may impact the stock’s future trajectory.
It is worth noting that stock performance is subject to various market factors and investor sentiment, and past performance is not indicative of future results. Investors should conduct thorough research and analysis before making any investment decisions.
In conclusion, Avinger Inc’s stock performance on September 20, 2023, indicates positive sentiment among analysts and investors. With a median target price forecast of $24.00, representing a potential increase of 93.39%, the company shows promising growth prospects. However, investors should consider the company’s financial performance and market conditions before making any investment decisions.