There is no way Avinger Inc. (AVGR) can keep these numbers up

Avinger Inc. (NASDAQ: AVGR) stock jumped 46.80% on Monday to $6.07 against a previous-day closing price of $4.14. With 40.45 million shares changed hands, the volume of the stock remained heavier than its average volume of 7970.0 shares. During the session, the Medical Instruments & Supplies company that operates in wider Healthcare sector, reached to the highest price of $8.50 whereas the lowest price it dropped to was $5.69. The 52-week range on AVGR shows that it touched its highest point at $24.30 and its lowest point at $4.14 during that stretch. It currently has a 1-year price target of $24.00. Beta for the stock currently stands at 1.65.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AVGR was down-trending over the past week, with a drop of -6.11%, but this was down by -26.38% over a month. Three-month performance dropped to -31.41% while six-month performance fell -55.53%. The stock lost -71.10% in the past year, while it has lost -62.70% so far this year. A look at the trailing 12-month EPS for AVGR yields -30.42 with Next year EPS estimates of -8.70. For the next quarter, that number is -2.85. This implies an EPS growth rate of 4.60% for this year and 56.10% for next year.

Float and Shares Shorts:

At present, 0.72 million AVGR shares are outstanding with a float of 0.67 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4370.0, which was 0.61% higher than short shares on Jul 30, 2023. In addition to Mr. Jeffrey M. Soinski as the firm’s Pres, CEO & Director, Mr. Nabeel P. Subainati serves as its VP of Fin., Principal Financial Officer & Accounting Officer.

Institutional Ownership:

Other institutions hold 2.94% of AVGR, in contrast to 1.93% held by mutual funds. Shares owned by individuals account for 0.88%. As the largest shareholder in AVGR with 0.85% of the stake, Millennium Management LLC holds 91,409 shares worth 91,409. A second-largest stockholder of AVGR, BlackRock Fund Advisors, holds 84,078 shares, controlling over 0.78% of the firm’s shares. Prosperity Wealth Management, Inc is the third largest shareholder in AVGR, holding 67,550 shares or 0.63% stake.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, AVGR reported revenue of $2.13M and operating income of -$3.76M. The EBITDA in the recently reported quarter was -$3.71M and diluted EPS was -$0.94.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AVGR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AVGR analysts setting a high price target of $24.00 and a low target of $24.00, the average target price over the next 12 months is $24.00. Based on these targets, AVGR could surge 295.39% to reach the target high and rise by 295.39% to reach the target low. Reaching the average price target will result in a growth of 295.39% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded AVGR stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 668,345 while 223 shares were sold.

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