Avinger Inc. (AVGR) – Don’t Be So Quick to Call it Dead

Avinger Inc. (NASDAQ: AVGR) is 34.74% higher on its value in year-to-date trading and has touched a low of $0.21 and a high of $1.32 in the current 52-week trading range. The AVGR stock was last observed hovering at around $0.44 in the last trading session, with the day’s gains setting it 0.15% off its average median price target of $1.00 for the next 12 months. It is also 41.0% off the consensus price target high of $1.00 offered by 2 analysts, but current levels are 41.0% higher than the price target low of $1.00 for the same period.

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Currently trading at $0.59, the stock is 73.69% and 97.50% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 53.8 million and changing 34.74% at the moment leaves the stock 59.09% off its SMA200. AVGR registered -49.32% loss for a year compared to 6-month loss of 70.94%. The firm has a 50-day simple moving average (SMA 50) of $0.3231 and a 200-day simple moving average (SMA200) of $0.3654.

The stock witnessed a 91.17% gain in the last 1 month and extending the period to 3 months gives it a 86.89%, and is 23.57% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 23.61% over the week and 14.88% over the month.

Avinger Inc. (AVGR) has around 81 employees, a market worth around $54.05M and $8.60M in sales. Distance from 52-week low is 177.23% and -55.09% from its 52-week high.

Avinger Inc. (AVGR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Avinger Inc. (AVGR) is a “Overweight”. 2 analysts offering their recommendations for the stock have an average rating of 2.50, where 1 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Avinger Inc. is expected to release its quarterly report on 05/12/2021 and quarterly earnings per share for the current quarter are estimated at -$0.06 with sales reaching $2.45M over the same period.The EPS is expected to grow by 90.50% this year, but quarterly earnings will post -6.70% year-over-year. Quarterly sales are estimated to shrink -4.40% in year-over-year returns.

Avinger Inc. (AVGR) Top Institutional Holders

27 institutions hold shares in Avinger Inc. (AVGR), with 1.11M shares held by insiders accounting for 1.30% while institutional investors hold 7.91% of the company’s shares. The shares outstanding are 84.92M, and float is at 84.59M with Short Float at 0.76%. Institutions hold 7.80% of the Float.

The top institutional shareholder in the company is Perkins Capital Management, Inc. with over 2.35 million shares valued at $0.76 million. The investor’s holdings represent 2.77% of the AVGR Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 0.83 million shares valued at $0.27 million to account for 0.97% of the shares outstanding. The other top investors are Spectrum Asset Management, Inc. (NB/CA) which holds 0.8 million shares representing 0.94% and valued at over $0.26 million, while Millennium Management LLC holds 0.22% of the shares totaling 0.19 million with a market value of $59886.0.

Avinger Inc. (AVGR) Insider Activity

The most recent transaction is an insider sale by SOINSKI JEFFREY M, the company’s Chief Executive Officer. SEC filings show that SOINSKI JEFFREY M sold 9,145 shares of the company’s common stock on Sep 22 at a price of $0.33 per share for a total of $3022.0. Following the sale, the insider now owns 74738.0 shares.

Avinger Inc. disclosed in a document filed with the SEC on Sep 22 that Patel Himanshu (Chief Technology Officer) sold a total of 6,097 shares of the company’s common stock. The trade occurred on Sep 22 and was made at $0.33 per share for $2015.0. Following the transaction, the insider now directly holds 58409.0 shares of the AVGR stock.

Still, SEC filings show that on Sep 22, WEINSWIG MARK (Chief Financial Officer) disposed off 6,097 shares at an average price of $0.33 for $2015.0. The insider now directly holds 55,382 shares of Avinger Inc. (AVGR).

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