Avinger (NASDAQ:AVGR) is seeing a massive boost to its stock on Friday after being listed as a hot penny stock to buy on Robinhood.
The recent interest in AVGR stock comes after PennyStock.com published an article about its top penny stock picks for January 2021. Avinger takes the top spot on that list with a price target of $1, which represents a 53% premium to its closing price on Thursday.
With that spotlight on AVGR stock comes more trading for investors looking to make a profit. As of this writing, more than 44 million shares of the penny stock have changed hands. To put that in perspective, the company’s daily average trading volume is 11.86 million shares.
Keeping all of this in mind, it’s clear investors want to know more about Avinger. Luckily, we have a quick breakdown below.
- Avinger is a medical device company with its main product being Tigereye.
- This is an “image-guided chronic total occlusion crossing system that can offer HD, real-time intravascular imaging to doctors.”
- The device is designed to help patients suffering from Peripheral Artery Disease.
- Avinger launched Tigereye in a limited release in the U.S. and Germany in the fourth quarter of 2020.
- The company is planning to expand its release of the medical device in the U.S. in the first quarter of 2021.
- This will have it reaching a full commercial distribution of Tigereye during this period with a national launch taking place this month.
AVGR stock was up 42% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.