Wednesday, September 23, 2020

Ladenburg Thalmann lifts Avinger Inc. [AVGR] price estimate. Who else is bullish?

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Avinger Inc. [NASDAQ: AVGR] plunged by -$0.01 during the normal trading session on Tuesday and reaching a high of $0.48 during the day while it closed the day at $0.47. The company report on September 1, 2020 that Avinger Announces Exercise and Closing of Underwriter’s Over-Allotment.

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 underwriter of its previously announced underwritten public offering has exercised, in full, their option to purchase an additional 1,000,000 shares of the Company’s common stock at a price of $0.47 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 $5.67 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.

Avinger Inc. stock has also loss -10.93% of its value over the past 7 days. However, AVGR stock has inclined by 23.30% in the 3 months of the year. Over the past six months meanwhile, it has lost -19.77% and lost -58.91% year-on date.

The market cap for AVGR stock reached $37.65 million, with 83.56 million shares outstanding and 54.25 million shares in the current float. Compared to the average trading volume of 10.62M shares, AVGR reached a trading volume of 9058416 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 0.07, with the Price to Sales ratio for AVGR stock in the period of the last 12 months amounting to 4.33. The Price to Book ratio for the last quarter was 1.67, with the Price to Cash per share for the same quarter was set at 0.21.

AVGR stock trade performance evaluation

Avinger Inc. [AVGR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.93. With this latest performance, AVGR shares dropped by -16.03% in over the last four-week period, additionally sinking by -19.77% over the last 6 months – not to mention a drop of -58.91% 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 45.77, with the RSI for the last a single of trading hit 40.65, and the three-weeks RSI is set at 48.17 for Avinger Inc. [AVGR]. The present Moving Average for the last 50 days of trading for this stock 0.4465, while it was recorded at 0.4940 for the last single week of trading, and 0.6426 for the last 200 days.

Avinger Inc. [AVGR]: An insightful look at the core fundamentals

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.

Earnings per share (EPS) analysis for Avinger Inc. [AVGR] stock

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.

Avinger Inc. [AVGR]: Insider Ownership positions

There are presently around $2 million, or 8.10% 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 $0.59 million in AVGR stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $0.23 million in AVGR stock with ownership of nearly 265.237% of the company’s market capitalization.

Positions in Avinger Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 12 institutional holders increased their position in Avinger Inc. [NASDAQ:AVGR] by around 3,046,269 shares. Additionally, 8 investors decreased positions by around 143,484 shares, while 9 investors held positions by with 1,494,469 shares. The mentioned changes placed institutional holdings at 4,684,222 shares, according to the latest SEC report filing. AVGR stock had 5 new institutional investments in for a total of 468,813 shares, while 7 institutional investors sold positions of 121,494 shares during the same period.

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