StockNews.com Begins Coverage on Avinger (NASDAQ:AVGR)

Equities research analysts at StockNews.com began coverage on shares of Avinger (NASDAQ:AVGR) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the medical device company’s stock.

Avinger Price Performance

Shares of NASDAQ AVGR opened at $0.78 on Monday. The stock’s fifty day simple moving average is $0.92 and its 200 day simple moving average is $1.55. The stock has a market capitalization of $2.49 million, a price-to-earnings ratio of -0.07 and a beta of 1.15. Avinger has a 52-week low of $0.70 and a 52-week high of $5.45.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.03) by $0.21. Avinger had a negative return on equity of 5,527.11% and a negative net margin of 261.06%. The firm had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $1.60 million. During the same quarter last year, the business posted ($2.92) EPS. As a group, analysts anticipate that Avinger will post -4.69 earnings per share for the current year.

Hedge Funds Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new stake in Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned approximately 2.57% of Avinger as of its most recent SEC filing. 18.30% of the stock is owned by 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.