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

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

Avinger Price Performance

AVGR stock opened at $0.81 on Wednesday. The business has a 50-day moving average of $0.87 and a 200-day moving average of $1.33. Avinger has a fifty-two week low of $0.70 and a fifty-two week high of $5.45. The stock has a market capitalization of $2.59 million, a P/E ratio of -0.07 and a beta of 1.14.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share for the quarter, topping the consensus estimate of ($2.03) by $0.21. The company had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $1.60 million. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. During the same period last year, the business earned ($2.92) EPS. Equities analysts expect that Avinger will post -4.69 EPS for the current year.

Institutional Trading of Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC purchased a new position in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned about 2.57% of Avinger as of its most recent SEC filing. 18.30% of the stock is currently owned by hedge funds and other institutional investors.

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.