B. Riley Securities lifts Avinger Inc. [AVGR] price estimate. Who else is bullish?

Avinger Inc. [NASDAQ: AVGR] slipped around -0.08 points on Wednesday, while shares priced at $1.07 at the close of the session, down -6.96%. The company report on July 6, 2021 that Avinger Announces 510(k) Filing for New Pantheris In-Stent Restenosis Indication.

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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 Peripheral Artery Disease (PAD), announced the submission of a 510(k) application to the U.S. Food & Drug Administration (FDA) for a new Pantheris clinical indication for the treatment of in-stent restenosis (ISR) in the lower extremity arteries.

Highlighting the importance of this submission, Jeff Soinski, Avinger’s President and CEO commented, “We are extremely pleased with this milestone and the initial clinical data generated from the INSIGHT trial that supports the 510(k) submission. The safe and effective treatment of in-stent restenosis is an important clinical benefit, which we believe will provide a highly differentiated competitive advantage for Avinger’s atherectomy products. With the large number of stents deployed in the lower extremity arteries, and the propensity for recurrence over a 2-to-3-year timeframe, the sheer number of ISR procedures performed in the U.S. each year provides a significantly expanded market opportunity for Pantheris, if our 510(k) application for this additional clinical indication is approved.”.

Avinger Inc. stock is now 143.13% up from its year-to-date (YTD) trading value. AVGR Stock saw the intraday high of $1.15 and lowest of $1.03 per share. The company’s 52-week high price is 2.67, which means current price is +114.00% above from all time high which was touched on 02/18/21.

Compared to the average trading volume of 3.21M shares, AVGR reached a trading volume of 2694754 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Avinger Inc. [AVGR]?

B. Riley Securities have made an estimate for Avinger Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 29, 2021. The new note on the price target was released on March 09, 2018, representing the official price target for Avinger Inc. stock. On April 11, 2017, analysts decreased their price target for AVGR shares from 4.30 to 1.

The Average True Range (ATR) for Avinger Inc. is set at 0.10, with the Price to Sales ratio for AVGR stock in the period of the last 12 months amounting to 12.43. The Price to Book ratio for the last quarter was 4.86, with the Price to Cash per share for the same quarter was set at 0.29.

How has AVGR stock performed recently?

Avinger Inc. [AVGR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.02. With this latest performance, AVGR shares dropped by -6.14% in over the last four-week period, additionally plugging by 60.49% over the last 6 months – not to mention a rise of 208.09% 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 45.96, with the RSI for the last a single of trading hit 43.36, and the three-weeks RSI is set at 46.81 for Avinger Inc. [AVGR]. The present Moving Average for the last 50 days of trading for this stock 1.1034, while it was recorded at 1.1580 for the last single week of trading, and 0.9842 for the last 200 days.

Avinger Inc. [AVGR]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Avinger Inc. [AVGR] shares currently have an operating margin of -198.65 and a Gross Margin at +29.88. Avinger Inc.’s Net Margin is presently recorded at -216.94.

Return on Total Capital for AVGR is now -68.46, given the latest momentum, and Return on Invested Capital for the company is -103.40. Return on Equity for this stock declined to -190.34, with Return on Assets sitting at -66.66. When it comes to the capital structure of this company, Avinger Inc. [AVGR] has a Total Debt to Total Equity ratio set at 130.41. Additionally, AVGR Total Debt to Total Capital is recorded at 56.60, with Total Debt to Total Assets ending up at 51.37. Long-Term Debt to Equity for the company is recorded at 96.80, with the Long-Term Debt to Total Capital now at 42.01.

Reflecting on the efficiency of the workforce at the company, Avinger Inc. [AVGR] managed to generate an average of -$253,413 per employee. Receivables Turnover for the company is 5.96 with a Total Asset Turnover recorded at a value of 0.31.Avinger Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 5.10.

Insider trade positions for Avinger Inc. [AVGR]

There are presently around $10 million, or 12.20% of AVGR stock, in the hands of institutional investors. The top three institutional holders of AVGR stocks are: VANGUARD GROUP INC with ownership of 3,736,163, which is approximately 136.903% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 2,044,661 shares of the stock with an approximate value of $2.19 million in AVGR stocks shares; and PERKINS CAPITAL MANAGEMENT INC, currently with $1.85 million in AVGR stock with ownership of nearly -25.943% of the company’s market capitalization.

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Positions in Avinger Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 25 institutional holders increased their position in Avinger Inc. [NASDAQ:AVGR] by around 5,641,054 shares. Additionally, 14 investors decreased positions by around 1,594,370 shares, while 2 investors held positions by with 2,349,279 shares. The mentioned changes placed institutional holdings at 9,584,703 shares, according to the latest SEC report filing. AVGR stock had 14 new institutional investments in for a total of 401,769 shares, while 11 institutional investors sold positions of 973,042 shares during the same period.

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