Avinger (NASDAQ:AVGR) Now Covered by Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of Avinger (NASDAQ:AVGR) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the medical device company’s stock.

Avinger Price Performance

Shares of AVGR stock opened at $0.78 on Friday. Avinger has a fifty-two week low of $0.76 and a fifty-two week high of $5.45. The stock has a market capitalization of $1.79 million, a P/E ratio of -0.06 and a beta of 1.17. The stock has a 50-day simple moving average of $1.00 and a 200 day simple moving average of $1.84.

Avinger (NASDAQ:AVGR) last released its quarterly earnings data on Thursday, August 8th. The medical device company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($2.39). The business had revenue of $1.85 million for the quarter, compared to analysts’ expectations of $2.55 million. On average, sell-side analysts anticipate that Avinger will post -4.69 earnings per share for the current year.

Hedge Funds Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC acquired a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned 2.57% of Avinger at the end of the most recent reporting period. 18.30% of the stock is currently owned by hedge funds and other institutional investors.

Avinger Company Profile

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells a suite of image-guided and catheter-based systems used by physicians to treat patients with peripheral artery disease (PAD) primarily in the United States and Germany. The company develops lumivascular platform that integrates optical coherence tomography visualization with interventional catheters to provide real-time intravascular imaging during the treatment portion of PAD procedures.