Separately, HC Wainwright lifted their price objective on Avinger from $1.60 to $5.00 and gave the stock a buy rating in a report on Monday, November 13th.
Avinger Trading Down 4.5 %
Avinger (NASDAQ:AVGR – Get Free Report) last posted its quarterly earnings results on Thursday, October 26th. The medical device company reported ($2.92) EPS for the quarter, missing the consensus estimate of ($2.85) by ($0.07). Avinger had a negative return on equity of 6,767.92% and a negative net margin of 225.61%. The business had revenue of $1.82 million for the quarter, compared to analysts’ expectations of $2.40 million. On average, equities research analysts predict that Avinger will post -3.59 EPS for the current year.
Hedge Funds Weigh In On Avinger
Several hedge funds and other institutional investors have recently modified their holdings of the company. Prosperity Wealth Management Inc. bought a new position in shares of Avinger during the second quarter valued at approximately $49,000. Armistice Capital LLC lifted its position in Avinger by 7.8% during the fourth quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock valued at $781,000 after purchasing an additional 52,000 shares during the period. Renaissance Technologies LLC purchased a new stake in Avinger in the second quarter worth approximately $42,000. Finally, Dimensional Fund Advisors LP bought a new stake in Avinger in the 1st quarter worth approximately $64,000. 8.14% of the stock is owned by 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) in the United States and internationally. It 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.
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