Avinger (NASDAQ:AVGR) Earns Hold Rating from Analysts at StockNews.com

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

Avinger Stock Up 2.3 %

Shares of NASDAQ AVGR opened at $0.83 on Friday. Avinger has a twelve month low of $0.76 and a twelve month high of $5.45. The firm has a market cap of $1.91 million, a P/E ratio of -0.07 and a beta of 1.15. The company has a 50 day moving average of $0.96 and a 200 day moving average of $1.71.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings data on Thursday, August 8th. The medical device company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($2.39). The company had revenue of $1.85 million for the quarter, compared to the consensus estimate of $2.55 million. As a group, equities analysts expect 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 bought a new position in Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 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 quarter. 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.