- The AVGR price has surged up to 72.16% in the last five trading sessions.
- The company stock has been trading at $10.45.
- It has been traded with a volume of $42.476 Million in the last trading day.
Avinger, Inc. (NYSE: AVGR) was founded by John B. Simpson and Himanshu N. Patel on 8 March 2007. It is a commercial-stage medical device company that designs and manufactures physician-based machines for patients with peripheral artery diseases.
Avinger, Inc. (AVGR) Stock: Financial Analysis
The company’s 2022 annual report has reported a decline of 18.33% in its revenue. Whereas it has not generated a stable revenue since 2019. The firm’s current TTM revenue for 2023 has also declined.
The company’s gross profit has also been very unstable. The 2022 annual report has declined by 22.49% compared to its prior year.
For the past seven years, the company reported a negative graph in its net income. Still, its net income is struggling to get back on track with the substantial increment. The only positive outcome is that it has been cutting its losses by a small percentage and decreasing its negative net income value year by year.
In the 2022 annual report, the company reported debt to equity ratio of 3.95% which is more than the average margin of 2%. This indicates the company has higher debts and it is spending its annual earnings in the repayment of its debts. This is affecting the company’s performance and could also affect its future growth.
Overall, the company’s finances aren’t performing well, and it’s trying its best to recover relevant difficulties.
Avinger, Inc. (AVGR) Stock: Technical Analysis
Currently, AVGR price is trading at $10.45 with a market capitalization of $7.493 Million and an average volume of $8.454 Million.
In mid-March 2022, after the breakdown of its $64 level support, the price started to fall. Since then the price has fallen and continued its downtrend. The price after falling from $16 has taken support from the $4 level and has to trade between these levels.
Recently, the company has split its share in the ratio of 1/15. Which led to a surge in price by 134.84% since 4 October 2023. This step has been initiated by the company to increase the liquidity and the price could trade in higher volume.
The AVGR price is trading between the 50 and 200 EMA’s indicating the price being pressurized by the buyers as well as sellers. This has led Price to be indecisive in nature.
The relative strength index is at 65.04 and is sloping in the upward direction. The RSI line is in bullish territory but the RSI line is heading towards overbought territory. If the RSI line moves up to over-bought territory then a short-term pullback can be seen in price.
Price Prediction On The Situation
Currently, the price is trading in a range of $16 to $4. The price could be seen consolidating in between these two levels for the upcoming months. After the consolidation phase if the price breaks above $16 then it may rise up to its next resistance at $23. However, for the price to continue its downtrend it must close below $4 then it may fall to $1.
Conclusion
The overall chart of AVGR price is bearish. The company has split its share in a 1/15 ratio to increase liquidity and for the price to trade in higher volumes. The price is currently trading in a range of $16 to $4. if the price breaks above $16 then it may rise up to its next resistance at $23. However, for the price to continue its downtrend it must close below $4 then it may fall to $1.
Technical levels
Resistance levels: $16 and $23.
Support levels: $4 and $1.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.