On September 19, 2023, Avinger Inc (NASDAQ:AVGR) experienced a significant surge in their stock price, building on the impressive gains they achieved the previous day. The stock skyrocketed by an astonishing 46.8% on Monday, reaching a price of $6.07. This surge was prompted by the exciting announcement of the commercial launch of their Tigereye ST image-guided CTO crossing device.
Before the official commercialization, Avinger conducted a limited launch that showcased the successful implementation of innovative design features, as well as the device’s safety, efficacy, and reliability. This positive outcome further contributed to the stock’s remarkable performance.
In a recent regulatory filing, it was revealed that Avinger made the decision to increase the amount available for sale under their previously disclosed at the market offering. The additional aggregate offering price now stands at an impressive $2,133,181.
The extraordinary trading activity surrounding Avinger shares has not gone unnoticed, as they continue to generate significant buzz on various social platforms. In fact, the stock has emerged as one of the top trending tickers on Stocktwits.
As of Tuesday morning, Avinger shares have surged by an astounding 51.4%, reaching $9.20. This remarkable increase follows the already impressive rally of over 46% witnessed on Monday.
Avinger, Inc.
AVGR
Buy
Updated on: 07/12/2023
Financial Health
Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Neutral
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Sell
AVGR Stock Performance: Fluctuations, Earnings Growth, and Concerns
AVGR, a health technology company specializing in medical specialties, had an eventful day on September 19, 2023. The stock opened at $9.26, significantly higher than the previous day’s close of $6.05. Throughout the day, AVGR’s stock price fluctuated between a low of $8.71 and a high of $11.07. The trading volume was 638,310, which is higher than the average volume of 6,785 over the past three months. The market capitalization of AVGR stood at $3.0M.
AVGR’s earnings growth in the previous year was reported at +4.63%, showing a positive trend. However, the company experienced an impressive earnings growth of +98.15% in the current year, indicating significant improvement. Looking ahead, AVGR is expected to maintain a steady earnings growth rate of +15.00% over the next five years.
On the revenue front, AVGR faced a decline of -18.33% in the previous year. This decrease in revenue might be a concern for investors, and the company will need to focus on strategies to reverse this trend.
AVGR’s price-to-sales ratio stands at 0.82, indicating that the stock is undervalued in comparison to its sales. Similarly, the price-to-book ratio is 0.52, suggesting that the stock is trading at a lower price than its book value.
In terms of today’s performance, AVGR had a slight increase of +0.01, resulting in a percentage change of +2.30%. This positive movement indicates a favorable trading day for AVGR. However, Dynatronics Corp, another company in the medical specialties industry, experienced no change in its stock price.
On the other hand, Catheter Precision Inc. (VTAK) saw a decrease of -0.02, resulting in a percentage change of -2.91%. This decline might be attributed to various factors affecting the health technology sector.
AVGR’s next reporting date is scheduled for November 8, 2023. Analysts forecast an earnings per share (EPS) of -$0.22 for this quarter. The company’s annual revenue for the previous year was $8.3M, while the annual profit stood at -$17.6M. The net profit margin for AVGR was reported at -213.02%, indicating a loss for the company.
AVGR’s corporate headquarters is located in Redwood City, California. Unfortunately, no executives were listed for the company.
In conclusion, AVGR had an eventful day on September 19, 2023, with the stock opening at a significantly higher price than the previous close. The stock experienced fluctuations throughout the day, and the trading volume was higher than the average. AVGR’s earnings growth in the current year was impressive, but the decline in revenue from the previous year is a concern. The stock’s price-to-sales and price-to-book ratios suggest that it is undervalued. AVGR’s stock price had a slight increase, while other companies in the industry experienced no change or a decline. AVGR’s next reporting date is in November, and analysts forecast a negative EPS for this quarter. Overall, AVGR’s stock performance on September 19, 2023, showed mixed results, and investors will be closely monitoring the company’s future developments.
AVGR Stock Forecast: Analysts Predict Significant Increase in Price, Consensus to Buy
AVGR stock had an interesting performance on September 19, 2023. According to data from CNN Money, the 1 analyst offering 12-month price forecasts for AVGR stock had a median target of $24.00, with a high estimate of $24.00 and a low estimate of $24.00. This median estimate represents a significant increase of 149.48% from the last price of $9.62.
The current consensus among the 1 polled investment analyst is to buy stock in Avinger Inc. This rating has remained steady since April, indicating a consistent positive sentiment towards the company’s stock.
Looking at the financials, Avinger Inc reported an earnings per share of -$0.22 for the current quarter. This indicates a loss for the company during this period. However, it is worth noting that sales for the quarter stood at $2.5 million, which suggests that the company is generating some revenue.
Investors will be eagerly awaiting the reporting date of November 8, when Avinger Inc will release its financial results for the quarter. This will provide further insight into the company’s performance and may impact the stock price.
Overall, the current outlook for AVGR stock is positive, with analysts predicting a significant increase in the stock price in the next 12 months. The consensus among investment analysts is to buy the stock, indicating confidence in the company’s future prospects. However, investors should keep an eye on the upcoming financial results to get a clearer picture of Avinger Inc’s performance and make informed investment decisions.
Discussion about this post