Avinger (NASDAQ:AVGR) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Avinger (NASDAQ:AVGR) in a research report report published on Wednesday. The brokerage issued a hold rating on the medical device company’s stock.

Avinger Trading Down 2.0 %

Shares of NASDAQ AVGR opened at $0.86 on Wednesday. Avinger has a 12-month low of $0.83 and a 12-month high of $6.55. The company has a market cap of $1.46 million, a price-to-earnings ratio of -0.05 and a beta of 1.17. The stock’s 50 day simple moving average is $1.09 and its 200 day simple moving average is $2.08.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings results on Thursday, August 8th. The medical device company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($2.39). The firm had revenue of $1.85 million for the quarter, compared to the consensus estimate of $2.55 million. As a group, equities analysts forecast that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Trading of Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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. Hedge funds and other institutional investors own 18.30% of the company’s stock.

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.