Avinger Inc. [AVGR] Revenue clocked in at $8.70 million, down -40.88% YTD: What’s Next?

Avinger Inc. [NASDAQ: AVGR] gained 18.54% or 0.1 points to close at $0.67 with a heavy trading volume of 44797817 shares. The company report on August 11, 2020 that Avinger Announces Exercise and Closing of Underwriter’s Over-Allotment.

REDWOOD CITY, CA / ACCESSWIRE / August 11, 2020 / Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of patients with Peripheral Artery Disease (“PAD”), today announced that the underwriters of its previously announced underwritten public offering have exercised, in full, their option to purchase an additional 2,368,421 shares of the Company’s common stock at a price of $0.38 per share. Total gross proceeds to the Company from the Offering, including the funds received from the prior closing and the exercise of this option, are approximately $6.9 million, before deducting underwriting discounts, commissions and other offering expenses payable by the Company. The shares were offered pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (SEC). A prospectus supplement and accompanying base prospectus relating to the offering were filed with the SEC and are available on the SEC’s website at www.sec.gov.

Aegis Capital Corp. acted as sole bookrunner for the offering.

It opened the trading session at $0.5985, the shares rose to $0.7189 and dropped to $0.592, the range by which the price of stock traded the whole day. The daily chart for AVGR points out that the company has recorded 9.95% gains over the past six months. However, it is still -179.17% lower than its most recent low trading price.

If we look at the average trading volume of 7.12M shares, AVGR reached to a volume of 44797817 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Avinger Inc. [AVGR]:

Ladenburg Thalmann have made an estimate for Avinger Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 09, 2018. The new note on the price target was released on April 12, 2017, representing the official price target for Avinger Inc. stock. Previously, the target price had yet another drop from $4.30 to $1, while Canaccord Genuity kept a Hold rating on AVGR stock.

The Average True Range (ATR) for Avinger Inc. is set at 0.06, with the Price to Sales ratio for AVGR stock in the period of the last 12 months amounting to 5.30. The Price to Book ratio for the last quarter was 2.41, with the Price to Cash per share for the same quarter was set at 0.24.

Trading performance analysis for AVGR stock

Avinger Inc. [AVGR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.36. With this latest performance, AVGR shares gained by 86.19% in over the last four-week period, additionally plugging by 9.95% over the last 6 months – not to mention a drop of -58.90% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AVGR stock in for the last two-week period is set at 69.03, with the RSI for the last a single of trading hit 73.19, and the three-weeks RSI is set at 65.85 for Avinger Inc. [AVGR]. The present Moving Average for the last 50 days of trading for this stock 0.4278, while it was recorded at 0.5770 for the last single week of trading, and 0.6760 for the last 200 days.

Avinger Inc. [AVGR]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Avinger Inc. [AVGR] shares currently have an operating margin of -212.01 and a Gross Margin at +31.40. Avinger Inc.’s Net Margin is presently recorded at -213.01.

Return on Total Capital for AVGR is now -102.80, given the latest momentum, and Return on Invested Capital for the company is -189.85. Return on Equity for this stock declined to -237.85, with Return on Assets sitting at -81.85. When it comes to the capital structure of this company, Avinger Inc. [AVGR] has a Total Debt to Total Equity ratio set at 200.49. Additionally, AVGR Total Debt to Total Capital is recorded at 66.72, with Total Debt to Total Assets ending up at 58.02. Long-Term Debt to Equity for the company is recorded at 59.97, with the Long-Term Debt to Total Capital now at 19.96.

Reflecting on the efficiency of the workforce at the company, Avinger Inc. [AVGR] managed to generate an average of -$240,123 per employee. Receivables Turnover for the company is 6.99 with a Total Asset Turnover recorded at a value of 0.38.Avinger Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.40.

Avinger Inc. [AVGR]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Avinger Inc. posted -0.7/share EPS, while the average EPS was predicted by analysts to be reported at -0.6/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -16.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AVGR.

An analysis of insider ownership at Avinger Inc. [AVGR]

There are presently around $3 million, or 6.20% of AVGR stock, in the hands of institutional investors. The top three institutional holders of AVGR stocks are: SABBY MANAGEMENT, LLC with ownership of 2,183,464, which is approximately 284.142% of the company’s market cap and around 0.20% of the total institutional ownership; PERKINS CAPITAL MANAGEMENT INC, holding 1,265,170 shares of the stock with an approximate value of $0.85 million in AVGR stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $0.33 million in AVGR stock with ownership of nearly 265.237% of the company’s market capitalization.

12 institutional holders increased their position in Avinger Inc. [NASDAQ:AVGR] by around 3,046,269 shares. Additionally, 8 investors decreased positions by around 136,798 shares, while 9 investors held positions by with 1,485,851 shares. The mentioned changes placed institutional holdings at 4,668,918 shares, according to the latest SEC report filing. AVGR stock had 5 new institutional investments in for a total of 468,813 shares, while 8 institutional investors sold positions of 136,798 shares during the same period.

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