Avinger (NASDAQ:AVGR) Coverage Initiated at StockNews.com

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

Avinger Price Performance

AVGR opened at $0.97 on Friday. The company has a market capitalization of $3.19 million, a price-to-earnings ratio of -0.09 and a beta of 1.14. The business’s 50-day moving average price is $0.82 and its two-hundred day moving average price is $1.17. Avinger has a 1 year low of $0.39 and a 1 year high of $5.45.

Avinger (NASDAQ:AVGR) last released its earnings results on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, beating the consensus estimate 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 in the previous year, the business posted ($2.92) EPS. Sell-side analysts anticipate that Avinger will post -4.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC purchased a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned about 2.57% of Avinger as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 18.30% of the company’s stock.

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.