Jeffrey M. Soinski, CEO of Company Avinger Inc . (Nasdaq :), he recently sold 3,690 shares of the company. Mico-chapels, which is currently estimated at $ 1.92 million, has recorded a stock drop by nearly 80% over last year. The shares were sold at a price of $ 0.5567 per piece, which is a total of approximately $ 2,054. After this transaction, Soinski retains ownership of 55,265 shares. According to Investingpro Analyzes, it seems that the stock is undervalued on the basis of a FER values metric, despite being revenue of $ 7.26 million in the last twelve months. The sale was carried out to cover the tax liabilities on deduction related to the acquisition of limited shareholders and was not the discretionary trade of Soin. Discover more insights about Avinger and more than 1400 other shares through comprehensive Investingpro Research reports containing detailed analysis and effective intelligence for smarter investment decisions.
In other recent news, Avinger Inc., a medical devices company, has announced a number of significant development. Avinger reported a slight reduction in total revenue to $ 1.7 million in the last quarter, but also noticed improvements in gross margin at 26% and reducing operational costs to $ 4.1 million. The company has decided to stop the production and sell its products for peripheral arteries to focus on the development of a coronary artery disease treatment, resulting in the release of 36 employees.
The executive officials of Avinger renounced the rights ahead of the potential liquidation of the company for lack of liquidity. Furthermore, the company faces potential removal from the Stock Exchange to disrespect the requirement of the minimum offer price. As for the more positive aspect, Avinger progresses in the phase III testing of the new coronary device, and it is expected that the partnership with the Zylox-tbridge will expand its market in China.
In terms of financial management, Avinger declared dividends to its convertible privileged shares of the E and H and increased the number of marked sections of the privileged shares of the F. are recent developments for Avinger Inc.
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