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

StockNews.com assumed coverage on shares of Avinger (NASDAQ:AVGR) in a report issued on Tuesday. The brokerage issued a hold rating on the medical device company’s stock.

Avinger Price Performance

Shares of AVGR opened at $0.83 on Tuesday. Avinger has a 1 year low of $0.70 and a 1 year high of $5.45. The company has a 50 day simple moving average of $0.89 and a two-hundred day simple moving average of $1.46. The firm has a market cap of $2.65 million, a P/E ratio of -0.08 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last posted its earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share for the quarter, beating the consensus estimate of ($2.03) by $0.21. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. The company had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $1.60 million. During the same period last year, the company posted ($2.92) earnings per share. On average, sell-side analysts anticipate that Avinger will post -4.69 earnings per share for the current year.

Institutional Inflows and Outflows

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

About Avinger

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.