Avinger, Inc. (NASDAQ:AVGR) price on Thursday, Jan 07, rose 13.01% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $0.65.
A look at the stock’s price movement, the close in the last trading session was $0.58, moving within a range at $0.6015 and $0.6660. The beta value (5-Year monthly) was 2 while the PE ratio in trailing twelve months stood at 0. Turning to its 52-week performance, $1.32 and $0.21 were the 52-week high and 52-week low respectively. Overall, AVGR moved 102.21% over the past month.
Avinger, Inc.’s market cap currently stands at around $59.23 Million, with investors looking forward to this quarter’s earnings report slated for Feb 2021. The company has a Forward Dividend ratio of 0, with its dividend yield at 0%. As such, investors might be keen on a downside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be -$0.06, which has seen fiscal year 2021 EPS growth forecast to increase to -$0.59 and about -$0.17 for fiscal year 2022. Per the data, EPS growth is expected to be -0.81% for 2021 and -0.71% for the next financial year.
Analysts have a consensus estimate of $2.45 Million for the company’s revenue for the quarter, with a low and high estimate of $2.31 Million and $2.6 Million respectively. The average forecast suggests up to a -4.4% decline in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to shrink to $8.52 Million, representing a -6.7% drop on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that AVGR is a 100% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 1 recommend AVGR as a Buy and none give it an Outperform rating. Meanwhile, none analyst(s) rate the stock as Underperform and none say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 0, with AVGR’s current price about 69.21% and 103.65% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 70.04, while 7-day volatility ratio is 20.17% and 15.65% in the 30-day chart. Further, Avinger, Inc. (AVGR) has a beta value of 2, and an average true range (ATR) of 0.09. Analysts have given the company’s stock an average 52-week price target of $1, forecast between a low of $1 and high of $1. Looking at the price targets, the low is 53.85% off current price level while to achieve the yearly target high, price needs to move +53.85%. Nonetheless, investors will most likely welcome a +53.85% jump to $1 which is the analysts’ median price.
In the market, a comparison of Avinger, Inc. (AVGR) and its peers suggest the former has performed considerably weaker. Data shows AVGR’s intraday price has changed +13.01% in last session and -48.01% over the past year. Comparatively, Thermo Fisher Scientific Inc (TMO) has moved +3.12% on the day and only +52.77% in the past 12 months. Looking at another peer, we see that Intuitive Surg Inc (ISRG) price has surged 1.95% on the day. However, the stock is 38.92% off its price a year ago. Moreover, Edwards Lifesciences Corp (EW) is also up 13.01% in trading on the day while keeping a downtrend of -48.01% over the past year. If we look at the PE ratio, we find that Avinger, Inc.’s ratio stands at 0 compared to Thermo Fisher Scientific Inc’s 40.99 and Intuitive Surg Inc’s 92.11. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 1.48% and 0.69respectively in the last trading.
If we refocus on Avinger, Inc. (NASDAQ:AVGR), historical trading data shows that trading volumes averaged 33.14 Million over the past 10 days and 11.7 Million over the past 3 months. The company’s latest data on shares outstanding shows there are 84.92 Million shares.
As per Thomson Reuters, 1.3% of Avinger, Inc.’s shares are in the hands of company insiders while institutional holders own 7.8% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 643.81 Million on December 14, 2020, giving us a short ratio of 0.11. The data shows that as of December 14, 2020 short interest in Avinger, Inc. (AVGR) stood at 0.76% of shares outstanding, with shares short rising to 1.01 Million registered in November. Current price change has pushed the stock +47.67% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the AVGR stock continues to rise going into the next quarter.
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