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

StockNews.com initiated coverage on shares of Avinger (NASDAQ:AVGR) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the medical device company’s stock.

Avinger Stock Down 2.0 %

AVGR opened at $0.81 on Friday. The firm’s 50 day moving average is $0.81 and its 200-day moving average is $1.13. Avinger has a 52-week low of $0.39 and a 52-week high of $5.45. The firm has a market capitalization of $2.69 million, a P/E ratio of -0.07 and a beta of 1.15.

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

Institutional Investors Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC purchased a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to the company in its most recent Form 13F 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. Institutional investors and hedge funds own 18.30% of the company’s stock.

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.