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Will Avinger Inc. (NASDAQ: AVGR) In 2023 Be Worth Your Money?

In the latest trading session, 15.12 million Avinger Inc. (NASDAQ:AVGR) shares changed hands as the company’s beta touched 1.65. With the company’s most recent per share price at $8.20 changing hands around $4.06 or 98.31% at last look, the market valuation stands at $5.89M. AVGR’s current price is a discount, trading about -196.34% off its 52-week high of $24.30. The share price had its 52-week low at $4.14, which suggests the last value was 49.51% up since then. When we look at Avinger Inc.’s average trading volume, we note the 10-day average is 18500.0 shares, with the 3-month average coming to 7.97K.

Analysts gave the Avinger Inc. (AVGR) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended AVGR as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Avinger Inc.’s EPS for the current quarter is expected to be -$2.85.

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Avinger Inc. (NASDAQ:AVGR) trade information

Instantly AVGR is in green as seen in intraday trades today. With action 26.84%, the performance over the past five days has been green. The jump to weekly highs of 7.47 on Friday, 09/15/23 added 98.31% to the stock’s daily price. The company’s shares are showing year-to-date downside of -49.62%, with the 5-day performance at 26.84% in the green. However, in the 30-day time frame, Avinger Inc. (NASDAQ:AVGR) is -0.55% down. Looking at the short shares, we see there were 4370.0 shares sold at short interest cover period of 0.96 days.

The consensus price target for the stock as assigned by Wall Street analysts is $24.00, meaning bulls need an upside of 65.83% from its recent market value. According to analyst projections, AVGR’s forecast low is $24.00 with $24.00 as the target high. To hit the forecast high, the stock’s price needs a -192.68% plunge from its current level, while the stock would need to soar -192.68% for it to hit the projected low.

Avinger Inc. (AVGR) estimates and forecasts

Data shows that the Avinger Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -39.93% over the past 6 months, a 69.73% in annual growth rate that is considerably higher than the industry average of 9.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Avinger Inc. will rise 91.80%, while the growth in revenue is estimated to hit 118.10% for the next quarter. Year-over-year growth is forecast to reach 6.90% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $2.39 million. 1 analysts are of the opinion that Avinger Inc.’s revenue for the quarter ending Dec 2023 will be $2.52 million. The company’s revenue for the corresponding quarters a year ago was $2.25 million and $2 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 6.10%. The estimates for the next quarter sales put growth at 25.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 80.40%. The 2023 estimates are for Avinger Inc. earnings to increase by 4.60%.

AVGR Dividends

Avinger Inc. is expected to release its next quarterly earnings report between November 07 and November 13.

Avinger Inc. (NASDAQ:AVGR)’s Major holders

Blackrock Inc. holds the second largest percentage of outstanding shares, with 0.05% or 5605.0 shares worth $41252.0 as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. With 3701.0 shares estimated at $27239.0 under it, the former controlled 0.03% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.01% of the shares, roughly 1565.0 shares worth around $11518.0.

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