StockNews.com Initiates Coverage on Avinger (NASDAQ:AVGR)

Equities researchers at StockNews.com initiated 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 0.9 %

AVGR stock opened at $1.11 on Friday. The business has a 50 day moving average price of $1.48 and a 200 day moving average price of $2.57. The stock has a market cap of $1.89 million, a price-to-earnings ratio of -0.06 and a beta of 1.26. Avinger has a fifty-two week low of $1.00 and a fifty-two week high of $14.00.

Hedge Funds Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC bought a new stake in Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 reporting period. Institutional investors and hedge funds 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.