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

Investment analysts at StockNews.com initiated coverage on shares of Avinger (NASDAQ:AVGR) in a research note issued on Monday. The firm set a “hold” rating on the medical device company’s stock.

Avinger Trading Down 8.0 %

Shares of NASDAQ:AVGR opened at $0.56 on Monday. Avinger has a twelve month low of $0.39 and a twelve month high of $5.45. The company’s 50 day moving average is $0.80 and its 200 day moving average is $1.08. The company has a market cap of $1.85 million, a PE ratio of -0.05 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last released its quarterly earnings data on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, topping 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 business had revenue of $1.65 million for the quarter, compared to analyst estimates of $1.60 million. During the same quarter in the prior year, the firm posted ($2.92) EPS. Equities research analysts predict that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC bought a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 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.