Avinger Inc. [AVGR] stock Initiated by B. Riley Securities analyst, price target now $2.50

Avinger Inc. [NASDAQ: AVGR] price surged by 13.51 percent to reach at $0.08. The company report on April 26, 2023 at 8:00 AM that Avinger Receives 510(k) Clearance for Tigereye ST Image-Guided CTO Crossing System.

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 vascular disease, today announced the company has received 510(k) clearance from the U.S. Food & Drug Administration (FDA) for Tigereye® ST, its next-generation image-guided chronic total occlusion (CTO) crossing system.

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Tigereye ST expands and advances Avinger’s proprietary image-guided CTO product line with compelling new features and benefits. Tigereye ST incorporates design upgrades to the tip configuration and catheter shaft to increase crossing power and procedural success in challenging lesions, as well as design enhancements for ease of image interpretation during the procedure. Tigereye ST continues to provide the high-definition real-time intravascular imaging, user-controlled deflectable tip, and faster rotational speeds introduced to the platform in 2021. Product specifications include a working length of 140 cm, 5 French sheath compatibility, and low crossing profile for treatment of lesions in the peripheral vessels both above and below the knee.

A sum of 9926380 shares traded at recent session while its average daily volume was at 67.26K shares. Avinger Inc. shares reached a high of $0.70 and dropped to a low of $0.5539 until finishing in the latest session at $0.64.

The one-year AVGR stock forecast points to a potential upside of 60.0. The average equity rating for AVGR stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Avinger Inc. [AVGR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AVGR shares is $1.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AVGR stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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. While these analysts kept the previous recommendation, Ladenburg Thalmann raised their target price to Buy. 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 0.09, with the Price to Sales ratio for AVGR stock in the period of the last 12 months amounting to 0.56. The Price to Book ratio for the last quarter was 1.16, with the Price to Cash per share for the same quarter was set at 2.02.

AVGR Stock Performance Analysis:

Avinger Inc. [AVGR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.74. With this latest performance, AVGR shares dropped by -20.06% in over the last four-week period, additionally sinking by -41.86% over the last 6 months – not to mention a drop of -77.00% 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 40.88, with the RSI for the last a single of trading hit 46.87, and the three-weeks RSI is set at 38.09 for Avinger Inc. [AVGR]. The present Moving Average for the last 50 days of trading for this stock 0.8975, while it was recorded at 0.5714 for the last single week of trading, and 1.1999 for the last 200 days.

Insight into Avinger Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Avinger Inc. [AVGR] shares currently have an operating margin of -192.88 and a Gross Margin at +32.08. Avinger Inc.’s Net Margin is presently recorded at -213.02.

Return on Total Capital for AVGR is now -69.84, given the latest momentum, and Return on Invested Capital for the company is -119.67. Return on Equity for this stock declined to -254.14, with Return on Assets sitting at -65.66. When it comes to the capital structure of this company, Avinger Inc. [AVGR] has a Total Debt to Total Equity ratio set at 394.57. Additionally, AVGR Total Debt to Total Capital is recorded at 79.78, with Total Debt to Total Assets ending up at 67.61. Long-Term Debt to Equity for the company is recorded at 26.58, with the Long-Term Debt to Total Capital now at 5.37.

Reflecting on the efficiency of the workforce at the company, Avinger Inc. [AVGR] managed to generate an average of -$248,211 per employee. Receivables Turnover for the company is 6.75 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 0.90 and a Current Ratio set at 1.20.

Avinger Inc. [AVGR] Insider Position Details

There are presently around $1 million, or 14.10% of AVGR stock, in the hands of institutional investors. The top three institutional holders of AVGR stocks are: ARMISTICE CAPITAL, LLC with ownership of 720,136, which is approximately 7.783% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 129,078 shares of the stock with an approximate value of $82000.0 in AVGR stocks shares; and BLACKROCK INC., currently with $54000.0 in AVGR stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Avinger Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 7 institutional holders increased their position in Avinger Inc. [NASDAQ:AVGR] by around 68,743 shares. Additionally, 7 investors decreased positions by around 68,391 shares, while 5 investors held positions by with 913,626 shares. The mentioned changes placed institutional holdings at 1,050,760 shares, according to the latest SEC report filing. AVGR stock had 2 new institutional investments in for a total of 15,890 shares, while 4 institutional investors sold positions of 59,169 shares during the same period.


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