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

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

Avinger Stock Up 46.1 %

Shares of NASDAQ:AVGR opened at $0.72 on Friday. Avinger has a 12-month low of $0.39 and a 12-month high of $5.45. The firm has a fifty day moving average of $0.81 and a two-hundred day moving average of $1.20. The firm has a market capitalization of $2.37 million, a P/E ratio of -0.06 and a beta of 1.14.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, beating the consensus estimate of ($2.03) by $0.21. The company had revenue of $1.65 million for the quarter, compared to the consensus estimate 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 quarter last year, the company posted ($2.92) earnings per share. Equities research analysts expect that Avinger will post -4.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC acquired a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 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.