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

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

Avinger Stock Up 1.7 %

Shares of NASDAQ AVGR opened at $0.60 on Tuesday. Avinger has a 12-month low of $0.39 and a 12-month high of $5.45. The firm’s 50-day simple moving average is $0.77 and its 200 day simple moving average is $1.02. The company has a market cap of $1.99 million, a price-to-earnings ratio of -0.05 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last announced its earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.03) by $0.21. The company had revenue of $1.65 million for the quarter, compared to analyst estimates 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 period in the prior year, the business earned ($2.92) earnings per share. On average, equities analysts expect 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 shares of Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to the company in its most recent disclosure 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 2.57% of Avinger at the end of the most recent reporting period. 18.30% of the stock is 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.