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

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

Avinger Stock Performance

Shares of NASDAQ AVGR opened at $0.81 on Wednesday. The company has a market cap of $2.59 million, a P/E ratio of -0.07 and a beta of 1.14. Avinger has a 52-week low of $0.70 and a 52-week high of $5.45. The firm’s fifty day moving average is $0.87 and its two-hundred day moving average is $1.34.

Avinger (NASDAQ:AVGR) last issued its 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 analysts’ expectations of $1.60 million. Avinger had a negative return on equity of 5,527.11% and a negative net margin of 261.06%. During the same period in the previous year, the firm posted ($2.92) earnings per share. As a group, analysts forecast that Avinger will post -4.69 EPS 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 acquired a new position in Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 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. Institutional investors 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.